GBP USD closes to the target 22/11/2012
Economies.com
2012-11-22 05:54AM UTC
The pair is approaching gradually from the waited target at the bearish correction channel which declines now to 1.6000, accompanied with Stochastic entering the overbought levels, which might cause a bearish bounce from there to keep the price within the channel.
For now, we prefer staying aside until reaching the mentioned target, hence breaching it will open the way for stopping the current bearish correction, while holding below will push the price to test the strength of 1.5900
Expected trading range for today is between: 1.5800 support and 1.6100 resistance.
Expected trend for today: Neutral
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