GBPUSD - Intraday Strategy (03 Jan 2013)

Pivot: 1.6280

Recommendation: SHORT positions around 1.6255 with 1.6170 & 1.6130 as next targets.
Alternative scenario: The upside breakout of 1.6280 will open the way to 1.6320/1.6380.
Comment:The pair is under pressure as long as it trades below 1.6280 levels, a 30 min close above this level would delay the bearish move and open the way to 1.6320/80 levels before going down once again. On the upside, break of 1.6380 is needed to confirm rally resumption from 1.6066, otherwise, more consolidation would be seen with risk of deeper pull back to 1.6066 levels and below!

Best Regards
Haitham

Views: 446

Tags: GBP/USD, GBPUSD

Comment by Khalil Sidi on January 3, 2013 at 9:45am

Finally some good info on the GU, Thanks

Comment by Haitham653 on January 3, 2013 at 11:02am

First target reached....

Comment by Haitham653 on January 3, 2013 at 11:02am

Thanks Kalil..

U R welcome...

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