GBPUSD Riding The Channel Lower

 

The GBPUSD has rebounded since moving lower towards the .382 fib at 1.5999 to start the week.  The cross is now resting near the top of the channel it has ridden lower since Mid September.  The channel top currently rest around 1.61.  This level also the weekly high and should act as solid resistance.  Support still rest at the .382 fib at 1.5999.  A break of this level could open the pair up to a test of the 50 fib from September's advance at 1.5903.

Sup           1.5999            1.5903

Res            1.61

Keane Plan....Looking for a move towards resistance to fade.

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