Wednesday, November 2, 2011

Beware pullback GBPUSD

Resistance level of 1.6040 and has been confirmed as the retest as much as 2x, and then immediately traded pair fell to 1.5875 range. and in the morning session today has traded pair Support breaking 1:59 range. Bias and Momentum in the morning session today is Bearish. Beware if this pair will do the pullback / retest the range of 1:59 and confirm the level of resistance it would be potentially traded weaker pair up with a range of 1.5850 followed by 1.5785 Support.

GBPUSD has traded with Range 33 points ie 24% of the Average Range 136 points and have been trading down -0.15% with High and Low -0.16 +0.04% from the close of trading yesterday.

Intraday Resistance 1:59 - 1.5945 Daily Pivot

Intraday support 1.5850 - 1.5785

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