Thursday, September 24, 2009

The Sterling Reach Support Area vs. Yen And Dollar

Above are Cable and GBP/JPY 4 hour charts. The British Pound had retraced and resume the fall against the Dollar and Yen since my last post. I have closed all positions now. A bounce is expected, but should be within the channel and below the broken support trendline (see charts). Below are the screenshots for both pairs before the drop (I intended to post the analysis before on Asian market but my connection failed me ;P). And don't forget to check my previous posts for mid-term downtrend target ok!

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