GBPUSD – Intraday Strategy (31 Jul 2013)

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Recommendations: SHORT positions below 1.5250  with 1.5195 & 1.5150 as next targets.

Alternative scenario: The upside breakout of 1.5250 will call for a rebound to 1.5295/355

Description: The pair trades below its resistance at 1.5250. As long as this level holds, the risk will remain to the downside towards 1.5200 ahead of 1.5150, an hourly close above 1.5250 will reverse risks to the upside towards 1.5300, above 1.5295 will look for 1.5355 levels…

MARKET DATA

UPCOMING ECONOMIC EVENTS

1 COMMENT

  1. In the medium term outlook , I expect 1.5128 to hold and contain downside from 1.5435 levels, a rally up is strongly suggested where a higher leg above 1.5435 might be seen, It’s the daily %R Williams , It’s in extended bullish divergence and still pointing higher beyond 1.5435 levels.

    But in return, stability below 1.5128 on a daily closing basis would mix up things and might expose 1.5026 and bring a free fall towards 1.4800 levels…

    We need to keep an eye on 1.5128 the next coming days…

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