GBP/USD analysis of the week (4h candlesticks)

By ForexTribe
09 February 2010 @ 05:25 am EDT

To take into account the last lowest, we moved the lower band of our bearish channel. However, this is not changing our former analysis. We maintain to trade only short positions as far as the price is moving into its bearish channel. The parity is currenlty moving in a range between 1.5550 and 1.5650. The break out of 1.5550 will give a new sell signal. However, if 1.5650 is broken, we could expect a correction towards 1.5726 but we will unadvise to trade long positions.



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