GBP/USD – strong resistance 1.5278 – for April 05, 2013 (daily strategy)
April 5, 2013 3:15 pm
Yesterday the British pound managed to recover from the downward pressure that led it until support levels of short-term bullish channel. This pair has a strong resistance in the 1.5278 area, daily fractal level. If you look at the chart, this pair is still below the long-term bearish channel. Therefore, it will be hard to overcome this level, so we believe that there must be a new sequence bearish for the next few hours. Therefore, any price approach to 1.5278 resistance will be an opportunity to sell the pair with targets at 1.5064 support.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
Yesterday the British pound managed to recover from the downward pressure that led it until support levels of short-term bullish channel. This pair has a strong resistance in the 1.5278 area, daily fractal level. If you look at the chart, this pair is still below the long-term bearish channel. Therefore, it will be hard to overcome this level, so we believe that there must be a new sequence bearish for the next few hours. Therefore, any price approach to 1.5278 resistance will be an opportunity to sell the pair with targets at 1.5064 support.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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