| GBP/USD Technical - 09/March |
| Written by Praful Patat | ||||||||||||||||||||
| Wednesday, 09 March 2011 06:23 | ||||||||||||||||||||
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GBPUSD is doing sideways movement on 1 hour chart (Complex Pattern). Break of 1.6166 resistance, going up side or break of 1.6144 down side. GBPUSD retraced 61.8% at 1.6144 level. Also pass up trend line at 1.6144. Now if GBPUSD not break of 1.6090 support, going up side toward extension 127.2% at 1.6408, 161.8% at 1.6512 from 1.6028 to 1.6327. Strong support at 1.6144, break of 1.6144 supports further going down side, next is 1.6105 and break of strong resistance is at 1.6335, break of this level further move toward 1.6422 on intraday. In bigger range, GBPUSD will possible projection 127.2% at 1.6565, 161.8% at 1.6913 from1.6294 to 1.5293.
GBPUSD gave buy signal on 1 hour chart Fib No. 61.8% at 1.6144 as per ABCD pattern, extension 127.2% at 1.6410, 161.8% at 1.6513.
Strategy: GBPUSD buy at 1.6150 target 1.6284, 1.6410 with stop loss 1.6080
New High: 1.6184, 1.6225, 1.6201.
New Low: 1.6101, 1.6142, 1.6118.
R3-1.6246, R2-1.6215, R1-1.6195, PP-1.6164, S1-1.6132, S2-1.6112, S3-1.6081.
GBPUSD is doing sideways movement on 1 hour chart (Complex Pattern). Break of 1.6166 resistance, going up side or break of 1.6144 down side. GBPUSD retraced 61.8% at 1.6144 level. Also pass up trend line at 1.6144. Now if GBPUSD not break of 1.6090 support, going up side toward extension 127.2% at 1.6408, 161.8% at 1.6512 from 1.6028 to 1.6327. Strong support at 1.6144, break of 1.6144 supports further going down side, next is 1.6105 and break of strong resistance is at 1.6335, break of this level further move toward 1.6422 on intraday. In bigger range, GBPUSD will possible projection 127.2% at 1.6565, 161.8% at 1.6913 from1.6294 to 1.5293. GBPUSD gave buy signal on 1 hour chart Fib No. 61.8% at 1.6144 as per ABCD pattern, extension 127.2% at 1.6410, 161.8% at 1.6513. Strategy: GBPUSD buy at 1.6150 target 1.6284, 1.6410 with stop loss 1.6080 New High: 1.6184, 1.6225, 1.6201. New Low: 1.6101, 1.6142, 1.6118. Pivot Point: R3-1.6246, R2-1.6215, R1-1.6195, PP-1.6164, S1-1.6132, S2-1.6112, S3-1.6081.
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