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Trading in a range

Trading in a range | 20 November 2013

20 November 2013, GBP/USD

GBP/USD is consolidating at the 1.6110 mini-range highs. It temporarily broke above the highs but failed to push higher, correcting back down to support instead. There is a possibility it might fall to the range lows at 1.5855 but a break below 1.6050 would provide useful confirmation of such a move. Equally there is a possibility that the pair will continue higher, moving up to the higher range-highs at 1.6255, with confirmation coming from a move above 1.6155.
Trading in a range
Mark Satcher
Analyst of «FreshForex» company
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