The U.S. House on Monday passed the debt-ceiling deal worked out by President Barack Obama and congressional leaders, sending it to the Senate for consideration a day before the deadline for the government to face possible default.
Dollar Index
Moving up...
GBP/USD
Widening range, GBP/USD attempted 1.6469 high, without touching 1.6550,
and plunge the our support level 1.6300, as per our weekly forecast.
I expect a consolidation at current price level 1.6300.
Current resistance 1.6380, 2nd resistance 1.6440.
Will try to short at 1.6380 today, if market triggered my SL and moved higher, I will try again at 1.6440 SL 1.6480 (yesterday high).
if market were to be resisted at 1.6440 my 2nd attempt to short is successful, then GBP/USD would have formed a nice Head and Shoulder pattern.
Looking forward to temp support 1.6300, breaking below this level then we shall see GBP/USD fall to 1.6150 support soon.
Related Post: http://ayumi216.blogspot.com/2011/08/weekly-forecast-fx.html
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