fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for GBP  Mon Oct 28, 2013 10:17 am | |
|  Technical Analysis for GBP The pair remained limited below top D of the bearish harmonic Crab Pattern at 1.6265. Trading below the referred to level might retest 1.5985, as breaking it might extend the downside move to test the first target of the harmonic pattern at 1.5815. The previous expectations remain valid as long as the pair didn't stabilize above 1.6265. Support: 1.6165, 1.6110, 1.6055, 1.6030, 1.5940 Resistance: 1.6200, 1.6225, 1.6265, 1.6310, 1.6340 Recommendation Based on the above, sell the pair around 1.6180 targeting 1.6110, 1.6055 then 1.5940 and stop-loss at four-hour closing above 1.6265 If the stop-loss was triggered, buy the pair above 1.6265 targeting 1.6310, 1.6400 then 1.6485 and stop-loss at four-hour closing below 1.6170 | |
|
