GBP/USD Daily Video, October 08, 2010

Good morning,
finally, we have some nice pattern for short-term trading. Personally, I think, that Cable has not bad chances to visit 1.56 area. Just try to do not be squeezed in today's NFP doom and gloom...
The second warning - if you will take this signal and enter short on Cable with 1.5650 target stop should not be placed above the yesterday's highs, it should be in the body of the pattern - somewhere near the top, but not above it. If this is really rejection of price, we do not want to see deep return. Ratracement should be shallow.






The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.