Monday, March 28, 2011

GBP setting up for a pounding.

The GBP has pulled back to key support again. Sellers have not been able to get the GBP/USD to break through this support ner 1.50 over the past 3 months. With today's doji, tomorrow should provide the next directional move. A move above the high today should see the pair retest 1.63 but I am anticipating this is the time we see support broken and a drop to 1.56 if not 1.54