GBP/USD Classical Technical Report 06.07

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By Joel Kruger, technical strategist June 7, 2012 05: 31 GMT GBP/USD: daily studies are now well saturated and risk CIHI appear tilted upside down to allow a corrective bounce short term necessary after the reverse out just shy of the 2012 bottom of January. Look for a break and then close back above 1.5440 to strengthen the prospects for growth in the short term, with acceleration in the region of 1 5600 - 1 5800, where a low high costs will be sought for the resumption of underlying bear trend.

-Written by Joel Kruger, technical currency strategist

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June 7, 2012 05: 31 GMT

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