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.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
