GBP USD retests 11/01/2013
Economies.com
2013-01-11 05:20AM UTC
The pair rallied to the upside yesterday to retest the previously broken support for the upside channel, and we notice the maneuvers around this level, while the price closed yesterday’s trading above it, but it found negative pressure coming from stochastic.
Thus, we prefer staying aside now, to monitor today’s closing according to 1.6155, as another closing above it will confirm the bullish trend, while settling below it followed by a break to 1.6100 level will push the price to resume the intraday bearish actions and new test to the psychological level 1.6000
Expected trading range for today is between: 1.6000 support and 1.6300 resistance.
Expected trend for today: Bearish
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