GBPUSD GDP Worries
2012
The GBPUSD made short work off last weeks gains. The cross has dropped 200 pips in the last 2 trading days. The par has found a bit of support at the 1.5520 level. This price level represents a the bottom of last weeks move higher. A hold or break of this price could dictate price action into the beginning of the week. A hold above 1.5520 and we could see a retest of past support now turned resistance at 1.5580. A break of this level and the next level of support is at 1.5460 followed by the monthly lows at 1.54.
Support 1.5460 1.54
Resistance 1.5580
Pivot 1.5520
Plan: Watch the 1.5520 level for direction
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