Forex Today Analysis and Signals GBPUSD 12.16.2013
Forex Today Analysis and Signals GBPUSD 12.16.2013
1.6320 will provide minor resistance ahead of the daily Tenkan, currently at 1.6360, which had previously acted as support from the run higher from around 1.6000 and was finally broken on the downside on Thursday.
Our preference: Short positions below 1.632 with targets @ 1.6255 & 1.623 in extension.
Alternative scenario: Above 1.632 look for further upside with 1.636 & 1.6385 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.632.
For Monday, use 1.6230/1.6320 as a guide.
Pivot: 1.632
Key levels
1.6385
1.636
1.632
1.6302 last
1.6255
1.623
1.6195
1.6320 will provide minor resistance ahead of the daily Tenkan, currently at 1.6360, which had previously acted as support from the run higher from around 1.6000 and was finally broken on the downside on Thursday.
Our preference: Short positions below 1.632 with targets @ 1.6255 & 1.623 in extension.
Alternative scenario: Above 1.632 look for further upside with 1.636 & 1.6385 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.632.
For Monday, use 1.6230/1.6320 as a guide.
Pivot: 1.632
Key levels
1.6385
1.636
1.632
1.6302 last
1.6255
1.623
1.6195
