Great British Pound (GBP) Technical Major Currencies (2010-04-21)

The pair is fluctuating once again around pivotal support level of1.5330 riding from negative momentum that has appeared after yesterday's bullish wave. This level's stability, accompanied by Stochastic entering oversold areas. Therefore, encouraging us to expect a bullish trend over an intraday basis; targeting 1.5500 once again and requiring 1.5245 to remain intact to maintain chances of achieving expectations.

The trading range for today is among the key support at 1.5190 and the key resistance at 1.5500.

The short term trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.

Previous Report Weekly ReportSupport1.53301.52801.52451.51901.5125Resistance1.53801.54551.55001.55551.5605RecommendationBased on the charts and explanations above our opinion is buying the pair and above 1.5330 targeting 1.5500 and stop loss below 1.5245, might be appropriate.