The GBPUSD is now testing its prior high just below the 1.5500 big level. It will be important to see how price action develops near this level as we have a 50% fibo retracement, swing high/low levels and trend resistance providing confluence. My preference is that we will see a bearish reversal but I wait for the price action to confirm that.
Cable reached key level
This entry was posted on Monday, July 26th, 2010 at 4:26 pm and tagged with GBPUSD and posted in analysis. You can follow any responses to this entry through the RSS 2.0 feed.
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