Serj Panchuk
Forex news, pound rate. According to the analytics of Societe Generale, GBPUSD currency pair may keep rising to the point of $1.5870. Moreover, they suppose that this rise is correctional to long-term bearish trend. Resistance is supposed to be provided by points $1.5695 and $1.5775, support – $1.5575.
Pound rate has started working on the bearish scenario, regarded in the overview dated 04/01/2012. According to the experts of the Department of Мasterforex-V Trading System, the finished bullish trend was provided by wave В(С) of Daily level. Currently bearish wave А/В is being formed, which is supported by Fibonacci points 1.5544, 1.5523/14, 1.5478, and 1.5433, as well as pivot MF 1.5481. Long-term wave А/В will be formed when the maximum of 1.5668 is passed. Its nearest resistance will be provided by pivot MF 1.5690, sloping channel MF, and Fibonacci points 1.5741, 1.5763, and 1.5786.
Serj Panchuk
