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GBPUSD due for a breather

Muhammad Zeeshan Ali from AMZ Capital at 02/04/10


GBPUSD: (1.5784)


GBPUSD is taking a good dip as anticipated and this dip seems to continue but for the time being we might see some retracement by GBPUSD because it has reached an important level 1.5750 in weekly charts and also the RSI is on the lower side, so it will also be pushing GBPUSD upwards. We might see GBPUSD taking retracement towards 1.5875 level. If GBPUSD takes retracement towards 1.5875 level, we might see some good selling once again.




Sell GBPUSD @ 1.5875 for Profit Level @ 1.5750 with Stop @ 1.5930 level. Profit target can be extended to 1.5600


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