In This Issue:

GBPUSD: With the pair’s failure to establish a clear recovery strength occurring on Monday and a follow-through lower seen in early trading today, …


GBPUSD

GBPUSD

GBPUSD: Edging Towards The 1.5326 Level.

GBPUSD: With the pair’s failure to establish a clear recovery strength occurring on Monday and a follow-through lower seen in early trading today, the bears are now on the verge of recapturing the 1.5326 level, its Aug 31’10 low. On a turn below that level, the 1.5122 level, its July 21’10 low will be targeted with a break aiming at further downside pressure towards the 1.5000. Alternatively, to reverse this view, a return above the 1.5470 level must be established to create scope for more strength towards the 1.5701 level, its Aug 16’10 high. Beyond the latter will eye the 1.5996 level, its Aug 08’10 high and then the 1.6274 level, its Jan 24’10 high.