Updated the:
05/16/2012
GBP/USD Technical Analysis comments :

Sentiment :
sentiment
1.6150
sentiment
1.61
sentiment
After a pullback on the resistance at 1.61, the pair GBP/USD took up its bearish movement and the breakout of 1.6050 and 1.60 both gave us a new sell signal.
The medium term bullish slant (black line) has been also broken.
All indicators are bearish.
We continue to advise short positions as far as 1.61 is resistance.
The breakout of 1.5950 will give a new sell signal and open the week towards 1.59.
In case of return above 1.61, we will be neutral between this level and 1.6150.
The breakout of 1.6150 will give a buy signal.
Complete sheet of the pair GBP/USD - Previous GBP/USD Analysis
Chart of the pair GBP/USD - Timeframe 4H - Zoom in :
GBP/USD
 
Chart of the pair GBP/USD - Timeframe 4H - Zoom out:
GBP/USD
GBP/USD Live Chart - Timeframe : 4h
Chart