Support/Resistance of the Day - GBP/USD (7 June 2011)

H4 Chart

R3 1.6503
R2 1.6458
R1 1.6430
Pivot 1.6384
S1 1.6339
S2 1.6311
S3 1.6265

In just 24 hours, GU fall beyond the support line for about 50pips and it able to be pulled back to above supprt trendline level and back to R1 and R2 level. This is power of GU, it you are good scalping trader, you should get good profit today. =)

However, when we check H4 chart, the trend of GU is still uncertainy, the yellow trendline is still the guideline to determinelong or short GU. Patient needed.