Forex Trade Setups Commentary: GBPUSD inside bar in uptrend 8-3-10

Forex Trade Setups Commentary:

GBPUSD inside bar in uptrend

The GBPUSD inside bar setup we posted in the commentary from 7/23 has since pushed dramatically higher, netting keen traders some serious pips. The pair has pushed up nearly 700 pips higher since the high of the inside bar broke up on 7/23.

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Commentary:

The U.S. dollar was mainly weaker again today, although it did hold its ground much better than yesterday. The greenback lost to the British pound, Euro, Japanese yen, and New Zealand dollar while gaining slightly on the Australian dollar and Canadian dollar.

The Dow lost 38.00 points, or 0.36 percent, the S&P 500 dropped 5.40 points, or 0.48 percent, and the Nasdaq dropped 11.84 points, or 0.52 percent.

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