FX.co ★ GBP/USD Intraday Important Level For August 4th / 2011

SHORT DESCRIPTION :

The GBP/USD traded in the range from 1.6250 to 1.6425, and yesterday 1.6425 acted as a strong resistance for the GBP/USD, as a result the currency came back to the downside again to test the 1.6325 However if after remains at that level, as long as this currency does not move and closes below the 1.6175, the GBP/USD will still have a chance to go up and catch again the target at the 1.6500, but this situation must happen before tomorrow (red: Friday).