Updated the:
07/17/2012
GBP/USD : Back on its major resistance at 1.5643
Sentiment :
sentiment
1.5570
sentiment
1.5512
sentiment
The British Pound strongly appreciated against the US Dollar. The bullish rally allowed the price to go out of its h4 bearish channel and also to made a return above the major resistance at 1.5643.

Although a pullback on 1.56 stay possible if the fibonacci retracement 38.20% at 1.5663 give resistance, we expect a pursuit of the bullish movement. The breakout of 1.5663 will open the way to a new bullish wave towards 1.5750 and 1.5785 (level 50%) in extension.

We are bullish as far as 1.5572 is support. In case of return below this level, we will be neutral between 1.5572 and 1.5512.
Analysis published by Bruno, the 07/17/2012 at 09h15 GMT+2

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Chart of the pair GBP/USD - Timeframe 4H

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Chart of the pair GBP/USD - Timeframe 1H

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GBP/USD Live Chart - Timeframe : 4h

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