GBP USD breaches 19/11/2012
Economies.com
2012-11-19 05:39AM UTC
The pair was able to breach 1.5900 within this day and week opening, which opens the way for visiting the bearish correction channel resistance at 1.6020
In general, the bearish correction trend remains valid, as the trading remains below 1.6020; therefore we expect that the pair might move bullishly towards the mentioned level before confirming the next trend on the short term basis, pointing that breaching 1.5900 followed by 1.5800 will push the price strongly for more bearishness.
Expected trading range for this week is between: 1.5650 support and 1.6250 resistance.
Expected trend for today: Bullish temporarily, neutral at the mentioned resistance.
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