Technical analysis GBP/USD 7 February 2013


“Bears” could not fix the price below the 1.5670/60 support, trading is back up and not it is at levels 1.5720/30. Some ¬†indicators changed the direction on the rising, which could signal a possible continuation of the recovery. However, remained in the oversold zone SS indicates the corrective nature of growth and the high possibility of new lows. Tradings stay in the down link (red line) also speaks of the continuing downward preferences and upholds expectations test of support at 1.5550/40 and 1.5500/10 further. However, we can not exclude short-term growth rates, in the observed correction to 1.5810/00 resistance. Signal of a reversal in the upward trend remains the same – the breakdown of the 1.6000 level.

GBP/USD - 07.02.13


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