Friday, 27 May 2011

GBP/USD Analysis 2011-05-27

GU possible to retrace before continue bullish at Daily Chart. On 1H chart GU showing bullish strength is getting weak as it moves in triangle.

On 4H chart, GU can be assumed moving in triangle as a new higher low (HL) is yet to be seeing. Thus before GU continue bullish, we might see a new HL.


Trade Idea : Traders may want to take short for mid term profit and put long at higher low for long term profit. We can see the result next week.

Happy weekend.
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2 comments:

  1. FXR27 May 2011 at 23:32

    Now, its seem that GU don't want to make it HL at this moment. GU continue bullish. Really powerful movement. Not recommend enter long in a hurry. Wait for correction. Sooner or later GU will retrace. Don't worry.

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  2. FXR2 June 2011 at 20:17

    My buy limit at 1.6300 doesn't trigger. GU make a rebound. I need to change my entry setting from buy limit to buy stop. See new chart.

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