Sterling continues Bullish trend

Tuesday, May 12, 2009

Bullish trend continues after due correction, and pair is approaching to yesterday’s high around 1.5350. Extension above that level could trigger bullish momentum in the pair, despite momentum in the hourly presents a bearish divergence.

Bigger time frames also seem a bit exhausted yet, no other signs of reversal yet.“Expect more gains in the pair, as long as price remains above the 20 SMA.”

0 comments:

 
Forex Online Resource. Design by The Online Helper