GBP/USD intraday: further advance.
26-May-11
07:15
Pivot: 1.6260.
Our Preference: LONG positions @ 1.627 with 1.634 & 1.638 in sight.
Alternative scenario: The downside penetration of 1.626 will call for 1.62 & 1.6165.
Comment: the pair has broken above a short-term bearish channel resistance.
Trend: ST Ltd Upside; MT Range
Key levels Comment
1.6415** Intraday resistance
1.638** Intraday resistance
1.634** Intraday resistance
1.63 Last
1.626*** Intraday pivot point
1.62** Fib retracement (50%)
1.6165** Fib retracement (61.8%)
Ticker: GBP
