GBPUSD 17/11/2013

FX:GBPUSD   British Pound / U.S. Dollar
321 0 2
With the cable ending higher last week, it failed to clear the 1.6110 level. It is also an important Fibonacci level of 1.618. While the 3 moving averages may deem this pair to be bullish at the moment on the 4-hour time frame, this pair is apparently bearish on the daily time frame.

With the week ending on the 1.618 Fibonacci Level, this provides a very good opportunity to short this pair when the markets open on Monday.
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