FX.co ★ GBP/USD Around the Trend Line March 25, 2011 (Daily Strategy)

GBP/USD

The British Pound - United States dollar pair, from his maximum at 1.6400 has been a correction to its first weekly support around 1.6056, at this level the pair has found his daily trend line,

if the pair closes in 4 hour candles, above 1.6180 will be next week by negotiating with an upward trend or target the 1.6340 to 1.6400.But if the pair closed this trading day, down from 1.6045 the next week the pair will turn very bearish, which could carry to the strong support around 1.5870.