Welcome to our 34th. edition of Currency Corner. In Today's edition we be focusing on the daily time frame of the GBP/USD. In previous sessions the Pound/Dollar has traded down to the Fibonacci 38.2% extension level which resides at 1.5250. A close above the January 12th. high of 1.5366 will spark a rally into the Fibonacci 61.8% retracement level at 1.5480. A close, however, below the 1.5250 level will encourage a wave of selling down into the 1.5000 handle. The Timing Oscillator is displaying divergence from the December 29th. low of 1.5361 to the most recent low of 1.5233 suggesting a near term bottom is in place. Moreover, momentum is building to the longside adding further support to a near term rally | DailyFX Forum visitors can sign up for our FREE Live Interactive Webinars and Live Trading Room at FXReturn.com. Please click the following link to view our research:Currency Corner Created with Camtasia Studio 5
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