| GBP/USD Technical Analysis - May/16 |
| Written by Praful Patat |
| Monday, 16 May 2011 05:01 |
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GBPUSD is forming sideway movement on 1 hour chart, break of 1.6154 further going down side toward 1.6052 and break of 1.6215 resistance further going up side toward 1.6314 on intraday. GBPUSD won’t break of 1.6139 then going up side toward 1.6282, 1.6374 possible. In GBPUSD minor resistance is at 1.6257 and support at 1.6139. On the other hand, GBPUSD will also retrace 1.6373, 1.6514 on 4 hour chart and break of 1.6514 resistance further going up side toward 1.6614. Pivot Point: R3-1.6377, R2-1.6316, R1-1.6277, PP-1.6215, S1-1.6154, S2-1.6115, S3-1.6054.
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