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FX.co ★ GBP/USD Around The Down Trend Line. May 31, 2011 (Daily Strategy)

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Forex Analysis

2011-05-31T12:05:08
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GBP/USD Around The Down Trend Line. May 31, 2011 (Daily Strategy)

GBP/USD Around The Down Trend Line. May 31, 2011 (Daily Strategy)

GBP/USD

The United Kingdom pound – United States dollar pair is showing signs of a change in trend, a daily close bellow of the downtrend line, will be a clear signal to sell short even the nearest support level at 1.6250. It is important to point out that the pair could return to its previous low point. If it fails to break through the 1.6205 weekly support level. Such a drop will create an additional opportunity to pick up the pair at a low and attractive buy price.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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