Thursday 16 May 2013

GBP's journey

Since my last post on GBP, it turned up around 1.52 which I showed as an intermediate stop on the way down with red ellipses. It may rally up to 1.53-1.5350 up to the green rectangle. Once it resumes the decline I expect the green intermediate resistance to be broken and this will open prices much lower than here. The ultimate target would be 1.43-1.44 as I can see via the larger green channel.

 

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