Sentiment : 1.5643 1.5643
The British Pound strongly depreciated against the US Dollar. The pair GBP/USD got back below the major resistance at 1.5643 and is currently testing the fibonacci retracement 23.60% at 1.5512.
A pullback on 1.56 stay possible but we expect a new bearish wave towards the support at 1.54. In H1, the pair is back into its former bearish channel (purple lines).
The pair is currently accumulating strengh since several candlesticks in a 1h timeframe. Economic datas on the unemployment rate in the US published this day could launch the new bearish wave.
We stay bearish as far as 1.5643 is resistance. In case of return above this level, a buy signal will be given. Analysis published by Bruno, the 07/03/2012 at 08h40 GMT+2
Chart of the pair GBP/USD - Timeframe 4H - Zoom in :
Chart of the pair GBP/USD - Timeframe 1H
GBP/USD Live Chart - Timeframe : 4h