Trade Idea Update: GBP/USD ? Sell at 1.6080 or buy at 1.5965

Trade Idea Update: GBP/USD ? Sell at 1.6080 or buy at 1.5965

<p>Despite intra-day resumption of recent decline from 1.6344 to 1.5977, loss of downward momentum should prevent sharp fall below 1.5962/63 (38.2% Fibonacci retracement of 1.5345-1.6344 and previous support) and reckon 1.5953 (61.8% projection of 1.6244-1.6038 measuring from 1.6080) would limit downside, bring rebound later. Above previous support at 1.6038 would bring retracement to 1.6080-87</p><img src="http://feeds.feedburner.com/~r/CandlesticksIntradayTrades/~4/zfgLXPFq0Hw" height="1" width="1"/>

Source: Trade Idea Update: GBP/USD ? Sell at 1.6080 or buy at 1.5965