Tuesday, July 7, 2009

GBP/USD Technical Report 7/7/2009

The GBP/USD closed up higher than we expected yesterday at the resistance level of 1.6220 which met the 23.6% Fibonacci level.
The outlook today that the pairs will continue rising for a while to put pressure on the resistance level at 1.6235 and then the expectation is that the pair will complete the landing to achieve the goals that are expected to reach at 1.5980 then 1.5842.

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