fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for GBP Mon Dec 09, 2013 8:44 am | |
| Technical Analysis for GBP The pair failed to trade above 127.2% Fibonacci represented in 1.6370 which got the pair into a sideway range below the referred to level but above 113% correction at 1.6310. Taking into consideration that the bullish continuous technical formation’s affect is still valid and will remain stable above 1.6260 forcing us to hold on to our positive expectations. The pair has to trade stably again above 1.637 to support these expectations. Support: 1.6330, 1.6310, 1.6260, 1.6225, 1.6170 Resistance: 1.6370, 1.6410, 1.6450, 1.6510, 1.6550 Recommendation Based on the above, buy the pair above 1.6330 targeting 1.6410, 1.6510 and 1.6665, stop-loss below 1.6250 | |
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