Market Leader informed
Today Seoul opens the G20 Summit.
It will be held for two days. Global leaders are going to approve new rules of the game in the banking sector that involve a tougher control system and to discuss the reform of the International Monetary Fund.
The pound sterling in Forex is, in the meantime, forming a correction wave upward against the previous bearish move. The medium-term bullish trend has not changed, so this wave can become the first wave of continued appreciation of the British currency.
No news releases are expected today, the US has a day-off - Veterans Day.
Support and resistance levels
1.6383 - 200% + 76.4%1.6302 - 161.8% + FZR + Oanda's sell limits
1.6252 - 138.2% + 88.2% + pivot
1.6221 - 123.6% + 76.4%
1.6133 - current system
1.6062 - 50% + Oanda's buy limits
1.6004 - 76.4% + Oanda's buy limits
1.5952 - FZR
* FZR - Fractal-Zigzag Reversal
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