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FX.co ★ GBP/USD Continuing Upward Trend January 03, 2011 (Daily Strategy)

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Forex Analysis:::2011-01-03T13:30:24

GBP/USD Continuing Upward Trend January 03, 2011 (Daily Strategy)

GBP/USD Continuing Upward Trend January 03, 2011 (Daily Strategy)

GBP/USD

From a technical standpoint, the GBP/USD pair is expected to continue moving north at least up to the 1.5850 resistance level. The stop loss order may be placed slightly under the last low and 200-day moving average around 1.5330 United States dollars for one British pound. We will note here the impressive positive deviation on the MACD indicator, supporting the bullish prediction for the pair.

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