InstaForex

Support/Resistance of the Day - GBP/USD (1 June 2011)

Wednesday, June 1, 2011

H4 Chart

R3 1.6594
R2 1.6547
R1 1.6518
Pivot 1.6471
S1 1.6424
S2 1.6395
S3 1.6348

GU broke the support trendline. It is not surprise because strong uptrend (45 degree uptrend last few days) will followed by a downtrend, it might be a short correction period or long fall of GU. Candlestick with long shadow and also MACD also show downtrend of GU. We can expect GU to fall untill at least S3 level.

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