GBP/USD- Fell From Its Resistance Zone Again As Predicted !
AvaTrade | Dec 04, 2013 07:13AM ET
The GBP/USD from resistance on a 30 minute time frame as predicted yesterday in our daily briefing analysis. The pair is finding its support from its upward trend line and has bounced back from this line which confirms that the uptrend is till intact.
However, a break of this line would confirm that the uptrend is becoming weaker, and the price has a potential to move towards its minor support zone which is mentioned below. But, on the upside, if the price does visit the minor resistance level again, then there could be more chances that it may break this resistance, as this will be the third time the pair visiting this level.
Important Zones
Resistance Zone
1.6619-1.6567 Major
1.6456-1.6412 Minor
Support Zone
1.6169-1.6126 Minor
1.5903-1.5853Major
Disclosure & Disclaimer:The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam
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