GBPUSD BoE On The Way
2012
The GBPUSD followed the roller coaster ride of the majors following President Obama's victory in the USA. Sterling has the possibility of outperforming in the near future with expectations the Bank Of England will remain on hold Thursday and leave the Asset Purchase Program target at 375 billion. Currently the pair has found support at 1.5960. A break of this level exposes the pair to a test of the .50 fib from the ascent to 1.63 at 1.5903. A break of either 1.5960 or 1.6040 is needed to knock this pair out of its current range.
Sup 1.5960 1.5900( 50 Fib)
Res 1.6040
Keane Plan...Watching the range for either a break of 1.6040 or 1.5960
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