The GBPUSD fell from the top of its range around 1.5640 in European Trading.  If the cross can remain above weekly lows at 1.5535 we could see another push towards resistance at 1.5650.  The 1.5650 level combined with the .382 fib just above at 1.5660 creates a strong resistance zone.  A break of this level could open the pair up to a run towards the months highs around the 50 fib at 1.5782.


Sup     1.5335

Res   1.5650/60

Summary:  As long as the pair remains above 1.5535 we could see a run towards the 1.5650/60 zone.


Thursday's Asian and European trading plan video....A three minute rundown of the majors