Friday, 20 September 2013

GBP/USD testing short term trend channel support, big picture worth a look too

Hourly chart shows test of short term trend channel support.

Daily chart shows the market possibly turning down at trend channel resistance.

Weekly chart shows the market retesting a multi year triangle.

Gold headed lower from test of down trend line resistance?

Daily chart hints that Gold may be headed lower from yesterday's test of trend line resistance.

Hourly chart illustrates that support has been found at current levels several times in the past month. Decline below that key support will raise the odds for a sharp move lower.