The Boss

phase correction greater degree A, B, C or recount?

FX:GBPUSD   British Pound / U.S. Dollar
203 0 5
The couple was GBP / USD breached the resistance level at 1.6820-40 after being tested several times in the short. The strong break of this level, has led to a strong movement towards the resistance at about 1.70 (up to 05.08.2009). The short-term bullish momentum remains intact until the support holds at 1.6680 area. In the very short term, given the two figures of inversion that formed on the chart, a move towards 1.6900 to 1.6960 is favored.
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