Great British Pound (GBP) Technical Major Currencies (2011-03-31)

By @ibtimes on

Morning Report

The pair continued moving to the upside to surpass SMA 50 and offseting the negative momentum on Stochastic. The several failed attempts at breaching 38.2% Fibonacci reflect the slim possibility for the bearishness to prevail. We recommend observing intraday trading for signals to confirm the upcoming direction, while critical levels are represented in the support at 1.5995 and resistance at 1.6150.

The trading range for today is among the key support at 1.5955 and the key resistance at 1.6275.

The short term trend is to the upside as far as 1.5315 remains intact with targets at 1.7000.

Previous Report

Weekly Report

Support1.60901.60601.59951.59551.5870Resistance1.61501.62001.62451.62751.6325RecommendationBased on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.

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