GBPUSD 50 FIB IS HOLDING THINGS UP

The GBPUSD broke below the ascending trend line that had guided the pair higher over the last two weeks in North American trading.  The pair moved down to test the next rung on the ladder at the 50 fib from September's advance at 1.59.  A break or hold at this level will be telling heading into the remainder of the week.  A push below this level ups the cross up to test of the .618 fib at 1.5808.  A hold of this level could see a bounce back towards 1.60.

Sup    1.59 (50 FiB)                       1.5808 ( 618 Fib)

Res     1.60  (.382  Fib)

Keane Plan....Watching for a break or hold of the 50 Fib.

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