Forex

The descending trading corridor on given currency pair remains. In the beginning of the American session it was possible to observe short-term growth of the British pound. Having reached strong level of resistance 1.6200, bulls have started to fix short-term profit that has led to delay of ascending movement.

Two hours has been generated turn candle model - Evening star after which «all has risen on the places» later.
Descending movement has renewed and already by the end of trading day quotation were near level of support 1.5840.

Today the Asian session passed very easy.

With high probability it is possible to assume that at present bears gain strength before new rally downwards.

Breakdown support level 1.5800 can lead to new aggressive sales, with the purposes on 1.5620, 1.5560 and 1.5430.

Resistance levels: 1.5860 1.5900/20, 1.5950, 1.5970 1.6000/10, 1.6070, 1.6100 1.6160/70, 1.6200

Current price: 1.5851

Support levels: 1.5850 1.5810/00, 1.5760 1.5710/00, 1.5650/40 1.5610/00, 1.5560 1.5510/00