Close GBP /
USD above the moving average week for 62 weeks again, maintaining a moderate
upward activity for another week and Maaoda access to the range between 1.5800
and 1.6000 which was besieged for several months at the beginning of 2012.
I say
moderate ascending because the pair also in an increasingly narrow range, which
can be seen clearly on the monthly schedule, similar to table a pair of gold
(gold / U.S.
$), which we discussed some time ago. The pair already infiltration towards the
top, and it seems that GBP U.S. dollar is heading in that direction as well.
There is a
long way to go in front of the pound sterling before penetration is confirmed a
long-term upward as the line upward pattern is somewhat at the same level of R1
at 1.6019. If that continues, the husband in respect of this triangle downward
which is known as the formation of science, is supposed to see the price going
up and access to the area 1.6000 before it turns into descending again and to
fall to test the line style countdown, which is the bottom of the range /
science at around 1.5600, the same area where there is a monthly S1 level.
Breakthrough
high last week at 1.5895 could move signals ascending to the level of 1.600
while closing below 1.5800 will indicate that the upward movement will wait for
a longer period and to put control in the hands of the downward movement.
Resistance
can be seen daily at 1.5912 and 1.5962 while the daily no support at 1.5837 and
1.5795. Monthly axis constitutes a strong support at 1.5754.
