Lower Time Frame Cable
We received two emails asking about the analysis we performed yesterday on the GBPUSD.
Now the questions have been is their an opportunity to trade the Cable on a shorter term time frame. The anser is yes you can and but we like to trade on longer term time frames.
You will have to create support/resistance lines on the time frame you wish to use and ones above that too. Below is the basic Pound Dollar 4 hour analysis to start you off. Notice the cluster of resistance around the 200 moving average.
The news today is the BoE has said they are not going to raise interest rates in the next 2-3 months.
Chart courtesy of Advanced Get. Data provided by eSignal.
Now the questions have been is their an opportunity to trade the Cable on a shorter term time frame. The anser is yes you can and but we like to trade on longer term time frames.
You will have to create support/resistance lines on the time frame you wish to use and ones above that too. Below is the basic Pound Dollar 4 hour analysis to start you off. Notice the cluster of resistance around the 200 moving average.
The news today is the BoE has said they are not going to raise interest rates in the next 2-3 months.
Chart courtesy of Advanced Get. Data provided by eSignal.
Forex Analysts
Anne Chapman & Javid Shaik
posted by Javid Shaik @ 11:27 AM
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