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

By IBTimes Staff Reporter | January 27 2010 3:23 AM

The lower band of our big bullish channel acted well as support. We maintain to trade only long positions as far as the parity GBP/USD is moving into its bullish channel. The break out of 1.6264 will give a new buy signal. However, if an exit of the channel occur, a sell signal will be given. But, we advise to wait the break out of 1.6078 (level 23.60%) before taking short positions.

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