GBP USD towards more correction 21/01/2013
Economies.com
2013-01-21 05:37AM UTC
The pair is trading according to the bearish correction scenario suggested recently, approaching from 1.5820, to make the trading stuck between Fibonacci correction levels 50% and 38.2% as shown in the image.
In general, the intraday bearish trend will be preferred unless 1.5950 was breached, where breaching above it will offer a motive for attempting to turn back to the bullish trend again, while breaking below 1.5820 will open the way for heading directly towards 1.5690.
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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