|
GBP/USD - May 24, 2011: Testing Level 1.6198 |
|
Tuesday, 24 May 2011 05:30 |
|
Yesterday: Open 1.6227 High 1.6235 Low 1.6120 Close 1089
Throughout the day yesterday Sterling strong bearish movement through the support level at 1.6153 and 1.6106. Overall Sterling daily high low range of about 150 pips.
Currently Sterling visible movement tries to rebound.
The focus of economic data today for Sterling are:
1. GBP Public Sector Net borrowing on at 15:30 pm
2. GBP CBI Realized Sales at 17:00 GMT
3. GBP MPC Member Fisher Speaks at 18:00 pm
When prices rise continuously then open the opportunity to level 1.6198.
We recommend that if the decline continues and the trend line diagonally across the open opportunities to the level of 1.6022 and 1.5954.
Prices shown on the graph H1 line MA05 and MA10 in conditions intersect.
While the Stochastic Indicator is indicating a bullish opportunities are limited.
|
