Technical analysis GBP/USD 30 January 2013

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The assumptions of the past comment about raising prices to the 1.5750/60  resistance confirmed. Now the pair is testing the obstacle for the breakdown, are trading at levels 1.5760/65. Indicators have weakened the testimony in favor of the “bearish” movement, which could mean continued growth. If consolidation above the level which is currently being tested is to happen, also mentioned earlier the 1.5800/10 resistance will be tested for strength. While the observed growth continues to be adjusted to the recent prolonged downward and the script provides for a further reduction in the 1.5500-1.5400 support area remains dominant. If the “bulls” push trading above 1.6000, it will signal a reversal in the upward trend.

GBPUSD - 30.01.13

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