up dow ?
GBP/USD Technical Update
GBP/USD found initial resistance at the 1.6300 area, after our previous update noted that any continued upside would bring the significant double top resistance area around 1.6300 back into focus as a technical point of interest. Price has subsequently dropped as low as 1.6237, before seeing another upside move. Yesterday printed a daily timeframe pinbar – but not the most convincing in terms of size against such a strong trend. The move higher never took out the previous highs and the market may yet take another upside run to test a break of 1.6308. This would see the highest GBP/USD level since around September 2011. The 1.6300 ... (full story)
- Posted: Dec 21, 2012 7:36am
- Submitted by:Category: Technical AnalysisComments: 4 / Views: 1,999