The British currency maintains certain firmness against the dollar, up from 1.52 in the last five candles on the daily chart. The pair has found strong support in this area. On the weekly charts the pound is kept in inside the bearish channel long term. The breakdown of the day's low of 1.5195 so far could drill the base of support, in which case the lower pound will be much firmer and faster. Therefore, we recommend selling only if the pair in 4 hour charts closed below the 1.52 level. On the other hand, a pullback to the bearish channel ceiling would be a good opportunity to sell with goals to weekly support of 1.4950.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via GBP/USD - Sell below 1.53 - for April 23, 2013 (daily strategy) . Thanks for your support on GBP/USD - Sell below 1.53 - for April 23, 2013 (daily strategy)
No comments:
Post a Comment