Technical analysis GBP/USD 29 January 2013

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As anticipated in the previous comments, the price dropped to the 1.5660/70  and strength of the support this support stopped falling. After the test, this couple  rolled back up a bit and now it is around 1.5700/10. The overall picture of indicator remains the “bearish” tone that leaves medium-term prospects for the further side of the slide. At the same time formed divergence on the MACD gains to fear a stronger recoil up in the correction to the recent drop, possibly to resistance at 1.5750 or even at 1.5800. However, the following scenarios as a pair in the levels of 1.5500-1.5400 remains dominant and the breakdown of the 1.5670/60 support will signal the continuation of its implementation. The change in the upward trend can be assumed only if prices rise above the 1.6000 level.

GBPUSD - 29.01.13

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