| GBP/USD Analysis-June 02,2011 |
| Written by Praful Patat |
| Thursday, 02 June 2011 05:35 |
|
Now GBPUSD is on up trend line, break of 1.6276 support next target will be 1.6181 and break of 1.6360 resistance further going up side toward 1.6482 on intraday. In GBPUSD strong support is at 1.6243.If GBPUSD will reverse from 1.6243 support then extension will be 1.6676-1.6844. Otherwise continues going down side remain same. GBPUSD is also form Head and Shoulder pattern on 1 hour chart, 1.6423 is the strong resistance. On daily chart, GBPUSD still on up trend zone, long term GBPUSD break of 1.6216 trend will be change. New High:1.6360, 1.6419, 1.6547. New Low:1.6270, 1.6181, 1.6134. |