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Monday, 9 July 2012

2012.07.09 07:26:12 GBP/USD intraday: capped by a negative trend line.

GBP/USD intraday: capped by a negative trend line.

Update on supports and resistances.
Pivot: 1.5515.

Our Preference: SHORT positions @ 1.5505 with 1.545 & 1.5425 in sight.

Alternative scenario: The upside breakout of 1.5515 will open the way
to 1.555 & 1.558.

Comment: the pair and the RSI are capped by bearish trend lines.

Trend: ST Ltd Downside; MT Range

Key levels Comment

1.558** Intraday resistance
1.555** Intraday resistance
1.5515*** Intraday pivot point
1.5488 Last
1.545*** Intraday support
1.5425** Intraday support
1.54** Intraday support
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