« EURUSD--Monday, May2, 2010 | Main | EURUSD--Wednesday, May 4, 2011 »

GBPUSD--May 3, 2011

Similar pattern to the EURUSD shown yesterday, with the difference that in this case, the pattern seems completed.

Shown on a daily chart:
110503-0744-gbpday.gif

And on an 8 hour chart, showing more clearly how the 2.618 and 4.236 extensions of the base provided zones of resistance and subsequent support:
110503-0744-gbp8hr.gif

TrackBack

TrackBack URL for this entry:
http://www.pureguesswork.com/mt/mt-tb.cgi/491