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At a pivotal crossroads

At a pivotal crossroads | 16 October 2013

16 October 2013, GBP/USD

Short-term trend may be changing and is certainly in doubt after yesterday's strong move down. A move back down to 1.5910 would probably signal a continuation lower with a target fixed at 1.58325. Alternatively a move above 1.6000 could signal a recovery higher, with a possible upside target at 1.61625. A strong move up could also negate the validity of the H&S pattern at the highs.

At a pivotal crossroads
Mark Satcher
Analyst of «FreshForex» company
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