GBP/USD The pair is currently trading at 1.6066 up 66 pips where it is meeting resistance. The pair bounced off the 55sma 1.5955 and 100% retracement of the gains from the FOMC non-taper. The pair is reacting positvely to the US housing numbers. The pair has broken through the top of the Ichimoku cloud on the 4-hour chart. The pair trading well above the cloud on the daily and following along the Tenkan line. On the weekly chart the pair has broken through the 61.8% fib retracement from the Dec 30 high 1.6379 and July 7 low 1.4812. The pair has broken through the first level of resistance and may test resistance 2 at 1.6089 then resistance 3 at 1.6134 Direction bullish best of luck
Posted on: Wed, 25 Sep 2013 16:22:51 +0000
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