GBP/USD
Technical Analysis for June 11th 2013/MBCFX
The GBP/USD was
in an ascending trend since May 29th 2013 at the 1.50 level, to
reach the 1.5683 level on June 6th 2013, then it started retreating
to form the correction Elliot Waves ABC.
So we expect
that the cable will decline on this week and next week, and if it breaches down
the key support level which corresponds to the bottom level of the ascending
wedge at 1.5520 , this would be a signal of decline towards he 1.5470 level ,
then to the 1.5420 level,
