Directly from Vladimir Ribakov's Live Trading Room

We have 2 opportunities here to look for it.  The first opportunities will be Bearish. If you look to the H4 charts we can see thatprice has broken through a strong trend line last week and is now creating somesort of channel.  My Bearish recommendation will be a break below the channel and close with a retest and hold will be our Bearish signal. And we will be looking to aim the 20MA of the Bollinger band which will be around the next support area of 1.5743. The Bullish opportunity will be just the opposite. A break and close above the channel with a retest and hold should open the doors to the next resistance area around 1.5960

GBPUSD

GBPUSD trade setup for March 19, 2012

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GBP/USD Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1.5793
1.5807
1.5829
1.5843
1.5865
1.5879
1.5901

Fibonacci
1.5807
1.5821
1.5830
1.5843
1.5857
1.5866
1.5879

Camarilla
1.5840
1.5843
1.5847
1.5843
1.5853
1.5857
1.5860

Woodie's
-
1.5809
1.5832
1.5845
1.5868
1.5881
-

DeMark's
-
-
1.5854
1.5838
1.5818
-
-