Bank Flow

5/12/08 Bank Flow Update

GBPUSD

As we begin a new week new Bank Flow levels begin to emerge. The first level I would like to post this week is on the GBPUSD at the 1.9723 to 1.9735 area for sells. This area should provide some resistance for an intraday target of 40 -80 pips. For those traders that can afford to hold a trade longer I might suggest to take partial profit for 40 pips on a portion of the trade and lock in for a further target back down towards the 1.9630 area.

 

 

 

 

 

 

 

 

 

 

 

USDCAD

Another level to watch is the 1.0019 area, give or take 5 to 10 pips, for buys. This combo is notorious for spiking though any level so I would stress caution when trading this pair and use appropriate risk for such an instance.

Dustin

Filed under Bank Flow By Dustin

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