Weekly: Bullish
Daily: Bullish, strong resistance at 1.5930.
If GBP/USD manages to cross above 1.5950, then it will go towards 1.6130-150.
Failure to break above this strong resistance, would be the confirmation of Trapezium and estimate a fall of 300 pips.
Strong Support 1.5780.
Today’s forecast:
intraday chart is not showing fatigue or divergence hence I forecast market to continue going higher and may go up to 1.6130-150 wave target price.
Anyhow, I don’t really feel like placing the order now.
Aggressive daily entry:
Long at initial shadow near 1.5850, SL 1.5820, TG 1.5930 (strong resistance).
EUR/USD
Good to read: http://www.forexcrunch.com/eurusd-outlook-feb-27-mar-2-2012/
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