GBPUSD The 50 Fib Is Conquered
2012
The path has been slow. At times it appeared as though the pair would never make it, but Tuesday the GBPUSD moved up and tested the 50 Fib from the May highs. If the pair can hold above the 50 Fib level at 1.5782 a move up towards 1.5850 could be in the cards. A rejection at this point could push the pair back into the range which has confined the pair over the last two months. Support now begins at past resistance at 1.5740 followed by 1.5660.
Sup 1.5740 1.5660
Res 1.5850
Pivot 1.5782
Keane Plan...Watching the price action around the 50 Fib at 1.5782. A hold above exposes 1.5850, below targets 1.5660
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