GBP/USD Forex Day Trading Idea – June 1
| June 1, 2009 | Posted by admin under Day Trading Ideas, Swing Trading Ideas |
The pair has consolidated but is still in an uptrend. While a break higher is more likely, a break in either direction is tradeable.
A break above 1.6240 would target 1.6300.
A move below 1.6210 provides a profit target of 1.6180-1.6170.
This trade idea is based on a 15 minute chart for the GBP/USD currency pair. Please read the latest How to Use the Trade Ideas blog if you have questions. If you still have questions after, feel free to comment.
Cory Mitchell, CMT
Chief Market Strategist
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Came within 1 or 2 pips of downside target.
The reversal exceeded the target on the upside. 2 potentially profitable trades.