TraderFX Trade Log

Short at 1.6551, s/l 1.6735, t/p 1.6389

all trades will be in gbp/usd.

t/p hit for 162 pips.

short at 1.6389, s/l 1.6546, t/p 1.6148

close this trade on friday at 1.6400, -11 pips

Key support is now at 1.6381, a break below this level will confirm the cycle top, then deeper decline could be seen to test 1.6265 support, below this level will indicate that the uptrend from 1.5984 has completed at 1.6583 already, and further fall could be seen to 1.6100 zone.

Near term resistance is at 1.6525 and key resistance is at 1.6583, only rise above 1.6583 level will suggest that the pair is back in uptrend from 1.5984, then further rally is expected to 1.6650 level.

long at 1.6508, s/l 1.6440, t/p 1.6602