GBPUSD Trend Top

17 Oct


The GBPUSD is attempting to break above the descending trend line that has capped price action around 1.6150.  Heading into the New York close the pair seems comfortable resting near price support at 1.6140.  The data flow out of China could be the spark to move this pair away from its current levels.  With better then expected data a break at the daily high at 1.6175 could attract buyers targeting a move towards 1.6217.  Conversely disappointing data could push the pair below the TL once again favoring a move back towards 1.6050.

Sup    1.6140                 1.6050

Res      1.6217

Keane Plan..Watching price action around the Descending TL.

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