Monday 18 March 2013

GBP update

The middle resistance of the green channel was broken up after the 5th hit. It is a very strong one. I have another channel candidate inside the green channel, which I showed with blue. It has to confirm with a hit&bounce downwards. The red upwards channel is not a very strong one and I think it won't last very long. If it does, it may take us to the upper wall of the green channel which we will hit around 1.5250. If the blue is confirmed and it resumes the downwards move, the first target is around 1.45 which is extreme but who knows. Pound is getting real smashed nowadays.

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