GBP USD tests the correction level 22/01/2013
Economies.com
2013-01-22 05:40AM UTC
The pair hit 50% Fibonacci correction level at 1.5820, and remains stable above it until now, and as we mentioned in our previous report, the bearish correction trend will be preferred as long as the trading remains below 1.5950.
Note that breaking below 1.5820 will push the price to visit 1.5690 as a main correctional target, while breaching above 1.5950 will form an initial key for the price attempt to turn back to the bullish track again.
Expected trading range for today is between: 1.5690 support and 1.5950 resistance.
Expected trend for today: Bearish, as long as 1.5950remained intact
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