Sunday, April 7, 2013

GBPUSD Price Action: The week Ahead, 07/04/2013 - 12/04/2013

 The weekly Chart of the GBPUSD has seen the break of Key resistance at about 1.5273 as a result of great bullish pressure, therefore, it is expected that the pair would push higher in the coming weeks.

The daily Time frame shows the break of the same resistance in more detailed form. Price had hovered around it for 2weeks and with this current break, higher prices should be expected with possibly slight pullbacks into support.

My Recommendation: Buy pair on pull backs into Support at about 1.5250 with stops below the closing price reversal candle.

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