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Found some anti-dollar setups for this week’s forex trading! Which one would you likely trade for yourself?

GBP/USD

GBP/USD 1-Hour Forex Chart
GBP/USD 1-Hour Forex Chart

Watch out for this one! If you’ve read Forex Gump’s 5 factors supporting a pound rally, then you’d love this setup even more. See, GBP/USD showed a pullback after rising strongly for the past couple of days. Okay maybe it’s only until the 38.2% Fib on the 1-hour time frame, but it’s something! It also helps that the pair is having trouble falling below a previous channel resistance level just below the 100 SMA. What do you think? Is it time to buy Cable?

USD/CHF

USD/CHF 1-Hour Forex Chart
USD/CHF 1-Hour Forex Chart

This one’s for traders who love trading trends like I do! USD/CHF has been on a downtrend since the start of June and it doesn’t look like it’s stopping anytime soon. The pair is currently testing the top of a falling channel, which is right smack at the 200 SMA area. The cherry on top of the sundae is an overbought Stochastic signal. Definitely a setup to watch!

XOXO,

Huck

See also:

2014 HLHB Trend-Catcher Performance

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This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.