Wednesday, 20 November 2013

Technical Analysis - GBP/USD

Current level - 1.6132

Yesterday's dip to 1.6056 was the final leg of the minor consolidation pattern below 1.6148 and currently the uptrend is renewed, heading for a test of 1.6250-60 major resistance area. Initial minor support is projected at 1.6101 and crucial on the downside is 1.6056 low.

Resistance                                      Support
intraday intraweek                  intraday intraweek
1.6150 1.6260                                1.6101 1.5850
1.6260 1.6260                               1.6056 1.5750

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