Today, on Dec 15th, the British Pound declined against the US Dollar.
GBPUSD is currently being traded around 1,5763, losing 0,7% on average.
Currency analysts expect 1.5720 to act as support. Tuesday’s high at 1.5911 may become the closest resistance.
It should also be noted that the British Pound has recently gained versus the Yen and Euro. GBPJPY reached 132,12 (gaining 0,11%) while EURGBP reached 0.8470 (losing 0,12%).
Movement scenarios: markup. Daily-H1-M15. GBPUSD. Dec 15th 2010.
1. Upward scenario (CP1-CP2-CP3)
Support level: 1.5710 is critical for this variant of movement. A breakout of it cancels the scenario.
Resistance levels:
Volatility indicator “Saks Channel”: 1.5768 - 1.5837 - 1.5906.
Local high: 1.5909. Buy target grid of the basic indicator: 1.5846 - 1.5876 - 1.5925.
2. Flat scenario (Flat-zone):
Support level: 1.5718.
Resistance level: 1.5860.
For the flattish movement scenario these levels are critical. If there is flat widening, the levels may see false breakouts. However, the deviation mustn’t exceed 161.8% - 1.6032. Therefore, in this case the price mustn’t come out of the buy-zone or sell-zone. The 161.8% support level inside the buy-zone and the 161.8% resistance level inside the sell-zone are critical for this scenario and cancel it once violated.
3. Downward scenario (CP1-CP2-CP3)
Resistance level: 1.5813 is critical for this variant of movement. A breakout of it cancels the scenario.
Support levels:
Volatility indicator “Saks Channel”: 1.5699 - 1.5632.
Local low: 1.5654 ( Daily). Sell target grid of the basic indicator is absent.
Attention!
9:30 UK (GMT) – Unemployment rate m/m, November 4.5%
14:00 US (GMT) - Net Long-term TIC Flows m/m, October $81.0B
Provided by the Department of mid-term trading and GTMT, Masterforex-V Academy.
Source: Market Leader
You are free to discuss this article here: forum for traders and investors
1 comment:
However GBP has a upper hand on US Dollar because of its consistent demand and influence.
Post a Comment