Invezted

Gbp/Usd Mapping the Territory w/c 26 / 22.06.15

FX:GBPUSD   British Pound/U.S. Dollar
67 0 1
Context:
After breaking the major downtrendline , price made a steady advanced with increased buying pressure
as seen on the lenght/stride and pace of the rallies compared to the reactions , the current rally brought us
to the 50% retracement level of the downtrend at 58800 which is a major keylevel , if we break this level to the upside
with a nice follow thru , we can speak of a strong bullish market. any rejection plus a break of the demandline
will bring us back to the 50% level of 52500


Signs of strength:
broken supplyline
strong rallies

Signs Of weakness:
downtrend

Support:
55500
52500
49000


Resistance:
58800
60000
62120

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