GBP/USD Technical Update

GBP/USD Technical Update

From forex-fx-4x.com

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 ... (full story)

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Dec 21, 2012 7:05am

We have had this year, triple tops! eur / usd - aud / usd ... and were broken! The charts of 1 H still dominates a 45 pips on gbp / usd. But this would undoubtedly be the most difficult to crack! On the other hand the SP500 vei 1445 until 1390 and refused to have this price, going back to 1426, 10 points above support 1416. The dollar index is reversing the downward trend and is now 7945, the 55 points of resistance of 80000! The afternoon session should bring a continuation of a flag, until something positive about the talks appear to reduce the tax burden.