GBP/USD Face to Critical Resistance

Indicators :

– RSI Period 14 with 30 level as oversold and 70 level as overbought.

– The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.

– Gann’s Price&Timing Study.

– Simple Moving Average 50 Period on the chart.

  • Latest big-occur news today “Bernanke Testimony“, The Pound Dollar recovery since as the leading decline currencies against US Dollar.
GBP/USD Daily July 13, 2011

Daily Chart

  • Presently, testing 1X1 angel’s Gann then will be market direction on Long-Term Forecast. However, it could break above this angel towards to 1.6213 as price projection from low.
  • RSI broke above 40 level as bullish mode support is the most key critical this time.
  • Thus, I guess the market should broke below presently resistance probably testing yesterday’s low at 1.5769 soon.