Thread: IMPoRTANT - GBP/USD- Are In Danger

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GBP/USD- Bears Are In Danger
Wednesday, March 31, 2010 GMT


Bulls did manage to break resistance level at 1.5112 with enormous strength. At the moment, neutral situation is still valid, but strong potential by bulls side to initiate positive trend is expected. Bears are in danger, look for short term upswings possibilities.


EUR/USD- New Support And Resistance Levels Are Formed

New support and resistance levels are formed at current neutral situation. Bears did manage to decline the price. However, according to previous bullish movement – they still have enough potential to recover. While support level holds, bulls are in safer area. Just below support barrier, bears can extend their current fall. At the moment waiting action remains.

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Updated 1.04.2010:
The Pound continues to rise versus the Dollar owing to good data that released on Monday succeed to push the Pound higher. The GBP/USD was on a clear uptrend in the last few days and it crossed the 20 moving average on the daily graph, therefore a long position is preferred. Overall, GBP/USD traded with a low of 1.5042 and a high of 1.5203.Today, Manufacturing PMI is expected at 56.8 vs. 56.6 prior.