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Fractal Analysis for March 03, 2011 (Daily Strategy)

GBP/USD Bearish Outlook , March 03, 2011 (Daily Strategy)


Today, the important levels for British pound - United States dollar pair are 1.6365 (1st resistance) 1.6345 (fractal) , 1.6331 (fractal) 1.6296 (daily pivot).
An impulsive descendant movement can take place after the breakout of 1.6240

Now, the pair's downwards potential is stronger than ever, we predict a downwards movement towards the first, support monthly level around 1.6050.

Performed by Gerardo Porras Palomino, Analytical expert
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