GBPUSD : Going downward destination of 1.5530

on Thursday, November 17, 2011



November 16, 2011
Current level - 1.5759
The pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.

Finally, the pair broke through 1.5850 major support and current outlook is bearish, towards 1.5630, en route to 1.5530. Major resistance on the upisde is 1.5850.

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