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FX.co ★ GBP/USD Weekly For May 23rd to 27th / 2011

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Forex Analysis:::2011-05-22T07:13:08

GBP/USD Weekly For May 23rd to 27th / 2011

GBP/USD Weekly For May 23rd to 27th / 2011

SHORT DESCRIPTION :

After the pair failed to break out above 1.6750 level the GBP/USD seems to be back to the downside, and this situation is indicated by the Divergence between the MACD and the price (red: Maroon lines). For the next whole week, the pair will test the mark 1.6000 as the Large Quarter Level; however, on the other hand, if this pair can break out and close above the 1.6250, it will hold the bearish situation of the pair at least temporarily .

Analyst InstaForex
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