GBP USD is stuck 18/01/2013
Economies.com
2013-01-18 05:21AM UTC
The pair was stuck below the previously broken short term support and above 38.2% Fibonacci level -for the bullish wave from 1.5266 to 1.6377-, while the price needs a break to 1.5950 to confirm the bearish trend continuation.
In general, the bearish correction will be preferred unless 1.6035 was breached followed by daily close above, noting that breaking below 1.5950 will open the way to the next correctional level at 1.5820
Expected trading range for today is between: 1.5820 support and 1.6055 resistance.
Expected trend for today: Bearish, as long as 1.6035 remained intact
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