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

By IBTimes Staff Reporter | January 12 2010 4:35 AM

A false break out of the channel occured. Indeed, currently, the price is moving below the upper band and 1.61 is resistance. So, we will advise to trade only short positions as far as 1.61 is resistance. The break out of this level will validate the exit of the channel and a buy signal will be given.

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