GBPUSD Caved to Peer Pressure

12 Jul
2012
by in Uncategorized

THe GBPUSD finally decided to join the fun today and broke below key daily support at 1.5460 to test 1.54.   A break of this level and we could see a move back towards the may lows at 1.5275.  Resistance now begins at past support at 1.5460 followed by 1.5575.  A pullback towards past support at 1.5460 could find new sellers.

Sup                 1.54

Res                  1.5460                         1.5575

PLan:   Waiting for a pullback and CNY Data.

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