Hello everybody
Here is a new analysis for today Forex Trading. Daily Reviews of the Market: The analysis of GBPUSD pair for 30th of March 2009

Hello everybody

Let's start with the analysis of big timeframes.

Daily: flat between 1.3503 and 1.4984
H4: up trend, but now we have its correction
H1: down trend
M15: down trend
The resistance levels: 1.4244; 1.4347; 1.4418.
The support levels: 1.4132; 1.4070; 1.3975.

As we can see we have the correction on H4 timeframe and a down trend on the H1 that is in the same direction with the trend of M15 timeframe.
30-03-2009.gif (image)

if the price will continue to break the minims the trend will continue, but if we will see the scenario from the picture we will have an up trend on M15 but this will be only a correction on H1.


Best Regards,
Anatolie

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