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الأربعاء، 2 فبراير 2011

GBP/USD: approaching 1.6160


GBP/USD: approaching 1.6160
Exhausted to the upside in the 4 hours chart, and with stocks struggling to turn positive, dollar is drawing some corrections against Pound, approaching to 1.6160 support zone; break below that level should favor a deeper correction, towards the 1.6080/1.6100 area, 38.2% retracement of the last bullish daily run.

To the upside, immediate resistance lies around 1.6190: consolidations above this last, should signal correction is over and pair is ready to resume its trend.

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