GBP/USD Approaches Key 1.6600 Resistance
Apr. 27, 2011 11:47 AM ET
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Seeking Alpha Analyst Since 2009
James Chen, CTA, CMT is Director of Technical Research and Education at FXDD, a global leader in foreign exchange trading. He is also a registered Commodity Trading Advisor and a Chartered Market Technician.
He is the author of the books, "Essentials of Foreign Exchange Trading" (John Wiley & Sons, 2009) and "Essentials of Technical Analysis for Financial Markets" (John Wiley & Sons, 2010), as well as author of the instructional video DVD set, "High-Probability Trend Following in the Forex Market" (FXstreet, 2010).
Mr. Chen contributes daily and intraday technical analysis to key financial media, is a frequent speaker at trading seminars, and has authored numerous articles on forex trading strategies and technical analysis in major financial publications.
He has been quoted by:
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And his feature articles have been published in:
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Mr. Chen graduated from Tufts University with a degree in social psychology, and has been a currency trader and market analyst since the inception of the retail forex market.
GBP/USD (a daily chart of which is shown) as of Wednesday (4/27/2011) has risen to approach key resistance around the 1.6600 price region before pulling back, after coming very close to hitting that level late last week. This occurs within the context of both a long-term bullish trend extending back for almost a year, as well as shorter-term bullish momentum. For more GBP/USD forex technical analysis, please click here.
James Chen, CTA, CMT
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