Mike's Forex Trading Soapbox

GBPUSD POSS TURN 5-8 Feb 2010

haranfx.com gbpusd poss turn

The GBP has been under a lot of pressure lately, however I have a turn in time forecast for the 6th of Feb, which is a Saturday, this would imply that it is either going to turn today 5th or on Monday 8th, I have forecast the possible prive levels that I am looking for a reversal at, once again always use stops. I am hoping that 1.56039 will hold. If the news for NFP is dollar positive, and we get a big GBP sell off, expect the turn to come in on Monday. Reversals on a Friday have a high failure rate. Remember we are trading the market not our analysis. It is always right, I am not.

February 5, 2010   2 Comments