FX.co ★ GBP/USD Technical Pattern for March 9, 2012 (Weekly Strategy)

GBP/USD

The GBP/USD pair is thinking about what technical pattern to choose and without definite trend, the moving average of 200 periods (blue) is above the current price quote, about 1.5877, if the pair closes the day and the week above this level, we recommend buying until the next resistance of 1.6069 (W_R2) as the final objective.
Furthermore, a close below 1.5720 can denote enter sell-positions until the next support, 1.5569.(W_S3)
The Range indicator and Momentum is showing bearish signals and neutral divergence.