H1 Chart of GBP/USD
Daily Chart of GBP /USD
On Daily Chart, we note that if it breaks the immediate support at 1.5232, then exposes next support at 1.5145, follows by 1.4990 (61.8% Fibo Retr.)
On H1, we note that the 100 SMA is located near 1.5270, with bearish divergence on both RSI and Stochastic.the immediate support at 1.5234 shall be soon being breached after breaking 1.5270 .
STRATEGY
SELL DOWN near 1.5290
SL===50 PIPS
TARGET : 1.5234, FOLLOWS BY 1.5145 NEXT., THEN 1.4990
You are advised to Go to this link to get more tips/info on GBP/USD :
http://betonmarketsdailyreport.wordpress.com/2010/07/16/forex-form-guide-gbp-usd/
Happy Trading
