Thursday, July 29, 2010

GBPUSD - 60 minutes chart

Reversal important close 2 or 3 candles below 1.5575
Breakout 1.55 will give us again 1.5430 possible extension to 1.5350.
Last swing high weekly 1.5522. Let see if bearish can close this week below that number.
 For now bulls control.
Overbought conditions are irrelevant if you look to downside this cross fell 1300 pips at the same conditions.
For now this is a V pattern like as we saw in the spx from 666 to 1220
Good Luck!!

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