GBP USD is stuck 06/05/2013
Economies.com
2013-05-06 05:28AM UTC
The pair found a solid support at 1.5485 that forced it to move higher heading towards the bullish channel resistance that appears in the image at 1.5630.
Now, the trading is stuck between the aforementioned levels, and there is a contradiction between Stochastic negativity and EMA50 positivity, which makes us need to wait for surpassing one of the mentioned levels to confirm the next targets, where breaking the mentioned support will lead to visit 1.5320, while breaching above 1.5630 will push the price initially towards 1.5780.
Expected trading range for today is between: 1.5410 support and 1.5760 resistance.
Expected trend for today: Depends on the above mentioned levels
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