Last week the GBP/USD peaked at 1.53818 and reversed to the previous down moves target zone to 1.49850.
Friday´s close (3/19/2010) :1.50118
Chart : Gbp/Usd 60 Minute X-Sequentials Chart
With the peak at 1.53818 a X-Sequentials X7 pattern has been formed.
It´s down move´s potential is restricted to the area of 1.50118-149735-1.49325.
The Gbp/Usd should reach the level of 1.52 -1.5250 next.
The stop of the long position was at 1.4913 ´.
Set your stop down to 1.49325 and keep your long position ´till 1.52.
yours sincerely ,
Devin Sage ,TXA Trading