GBPUSD

Approaching the top of the channel

Cable Double Top
Short @ 1.59645
SL 80 points

This is nearing a strong resistance level.The level to watch out for is 1.6353.
This level is the top of a massive symmetrical triangle and near the Horizontal resistance at 1.6380.
So stops would have to be above 1.6400 if you short this at 1.6353
This will be based on a first attempt only.


dl.dropboxusercontent.com/u/4899609/usdgbp30thsept.png

So one to keep an eye out for the coming week.


dl.dropboxusercontent.com/u/4899609/usdgbp30thsept1.png

im going to short this at 1.610 on a first attempt basis trade. This is the top of the channel and there is also a horizontal resistance at 1.600. Only going to short this on a first attempt basis trade so will look to close this quickly. Im using a 40 point stop.
This is also a psychological level as well

dl.dropboxusercontent.com/u/4899609/gbpusd18thsept.png

Closed half @ 1.56651
SL moved to below todays low for the rest 1.56188

Cheers mate & keep them coming...every post on here has something useful...like tescos slogan - Every Little Helps!

I got a bit worried about my cable position when I looked at EUR/USD chart on your CS TA, might open a short on EUR/USD tomorrow to cover my cable Long!