GBPUSD Hugging the .382 Fib
2012
Heading into the New York Close the GBPUSD has moved up to test the .382 fib at 1.60. A hold of this level places the pair once again in its range from last week between 1.6180 and 1.60. A hold above this level, following the election results could lead to a push back towards the top of the range. If dollar strength catches wind following the election a break of 1.5960 open the pair up to a test of the 50 Fib at 1.5903 followed by the .618 fib at 1.5808.
Sup 1.5960 1.5903(50 Fib) 1.5808(.618 fib)
Res 1.60 1.6180/1.6210
Keane Plan…Election will dictate. Looking for a hold above 1.60 or a break below 1.5960
post election results.
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