|GBP/USD : The return above 1.60 changes the trend|
--- New analysis ---
The bullish rebound of last week has accelerated on friday, leading to a return above the major resistance at 1.60. So, a buy signal has been given. On the short term, this bullish rally led also to an exit of the short term bullish channel (black lines) from the top.
We advise to trade only long positions as far as 1.5963 is support. A pullback on 1.60 stay possible before a pursuit of the movement towards the resistance at 1.6068. The breakout of this level will give a new buy signal and should open the way towards 1.61 and 1.6132 in extension.
>In case of return below 1.5963, we will be neutral between this level and 1.5928.
Analysis published by Bruno, the 11/26/2012 at 09h30 GMT+2
|Complete sheet of the pair GBP/USD - Previous GBP/USD Analysis|
|Chart of the pair GBP/USD - Timeframe 4H|
|Chart of the pair GBP/USD - Timeframe 1H|
|GBP/USD Live Chart - Timeframe : 4h|