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Technical Analysis
Technical analysis on EU,GU and majors
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[QUOTE="bhanu545, post: 15346, member: 7126"] [b]GBP/USD Intraday Technical analysis 2010-11-10[/b] [IMG]http://instaforex.com/userfiles/20101110/livredollar.gif[/IMG]The spot rate has bounced off the lower limit of its medium-term downtrend channel in 1.5870 and is currently testing its intermediate resistance to 1.6020. A break of this area would release a significant potential. According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6020 with a 1st objective of 1.6110, then 1.6150. A break in 1.5990 would invalidate this scenario. Performed by Albert Fitoussi, Analytical expert InstaForex Companies Group © 2007-2010 [/QUOTE]
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