Trade Idea Update: GBP/USD ? Sell at 1.6080 or buy at 1.5970

Trade Idea Update: GBP/USD ? Sell at 1.6080 or buy at 1.5970

<p>Although current breach of previous support at 1.6030 signals recent upmove has indeed formed a top at 1.6344 last week and the fall from there may extend weakness towards 1.5962/63 (38.2% Fibonacci retracement of 1.5345-1.6344 and previous support), however, loss of near term downward momentum should limit downside to 1.5953<img src="http://feeds.feedburner.com/~r/CandlesticksIntradayTrades/~4/g46ONuJKZ44" height="1" width="1"/>

Source: Trade Idea Update: GBP/USD ? Sell at 1.6080 or buy at 1.5970