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Thursday, June 4, 2009

GBPUSD technical analysis daily timeframe


GBPUSD daily timeframe.

Top price just reach the resistance level. I believe this is the obvious retracement level. Selling mode for a while. According to fibonacci retracement and parallel channel its look possible to down until 38.2 ( support is overthere ). If we look at timeframe 1 hour there is a clear bearish divergence instead of confirmation which the trend is now going to correction. Just beware with any fake breakout because inside consolidation there are to many tricky breakout :). good luck.

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