GBP USD breaks key level 17/01/2013

Economies.com
2013-01-17 05:56AM UTC

 

The pair achieved a break to the short term bullish trend support, to open the way for a potential bearish correction for the bullish wave which was measured from 1.5266 to 1.6377, where the first correctional level is located at 1.5950.

 

We must mention that breaking below the mentioned level will ease the way towards more bearish moves and the next target at 1.5820, while breaching above 1.6030 will stop the current bearish correction and turn the price back to the bullish trend again.

 

Expected trading range for today is between: 1.5850 support and 1.6110 resistance.

 

Expected trend for today: Bearish, as long as 1.6030 remained intact

 

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