Wednesday, 22 February 2012

GBP/USD 22 Feb

 GBP/USD 22 Feb

Did not continue the pair much higher bottom formed at the support level 1.5819 where the fallen pair in the form of a corrective wave to another bullish trend in the short term,

 continue down until it forms the bottom at the level of support 1.5762 which represents 50% Fibonacci correction level for the direction of the rising short-term (from 1.5644 to 1.5880),

 expected to benefit the husband of this bottom on the rise again in order to re-test the level of 1.5819, which became a resistance level price breakthrough to the top of this level means along the climb up to resistance level 1.5880,

 this scenario requires a constant level of support 1.5762 penetrate to the bottom of this level means Continues the formation of the bearish trend corrective to the level of support 1.5700.
Resistance: 1.5838, 1.5898, 1.5931 Pivot: 1.5805 Support: 1.5745, 1.5712, 1.5652

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