Wednesday, March 10, 2010

GBPUSD Intraday Market Thought 11032010

Below 1.5220 Trend bearish all time frames.

Expect coming hours new test suport area 1.4880 ( bearish formation last hours) but if close hourly above 1.5030 expect 1.5074 possible extension to 1.5110.

Possible bearish pattern - wedge need confirmation with a close below 1.4930 Target 1.4877 again.

Resistances : 1.4985, range [1.5018,1.5030] and 1.5074 the last resistance 8 pips above first resistance daily chart.

Click to zoom in. Good Luck




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