Legend For Phase Chart:
1: Recovery-1: Warning
2: Accumulation-2: Distribution
3: Bullish-3: Bearish

Tuesday, October 19, 2010

GBPUSD Still In Bullish Mode


GBPUSD pullback after breaching 1.60 level. The current phase chart indicates that the currency pair is still in “Bullish” mode. The 50 day moving average is around 1.58 level and this serves as the support level. If the price is above to go above 1.60 level again, it will be a very good sign for the bulls.

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