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GBP/USD Analysis
Stoyan Mihaylov , DELTASTOCK AD
Published 02/09/2010 - 8:03 a.m. EST
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ABOUT THE AUTHOR

Stoyan Mihaylov
Website:
 http://www.deltastock.c...
Email:
 smihailov@deltastock.bg

Current level- 1.5601

The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.

The consolidation pattern is close to its final and although there is a chance for a tight test in the 1.5706-24 area, the overall bias is negative for 1.5352. Important for today are the support at 1.5560 and the resistance around 1.5647.

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