FAKEY SELL SETUP ON GBPSUD DAILY CHART 28TH DEC 2012

GBPUSD

Recently in our previous market commentary on this pair, we pointed out the  the classic pin bar setup sported at the major resistance on the daily chart payed off quite well. We also mentioned that the pair was sitting on a support as at the time of the analysis and  needed to break the support before we see more sell. Today however the GBPUSD completed a bearish fakey setup after breaking through the support level of 1.6166 as mentioned before. If the bearish pressure continues to mount hard, the pair is expected to fall to the support levels as illustrated above respectively.

This entry was posted in Trade Setups and tagged , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>