Error message

Deprecated function: Creation of dynamic property MergeQuery::$condition is deprecated in MergeQuery->__construct() (line 1357 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).

GBP/USD: Bearish Against 1.5750

Sameer Kapoor 27 June 2013

GBP/USD is reversing from 1.5340 which appears to be start of a larger recovery, but only temporary. Notice that first leg down from 1.5750 has unfolded in five waves which means that move is impulsive and showing direction of a current trend that is bearish. As such, we expect that this trend will continue but after a completed three wave rise in black wave 2 that is now unfolding. Ideally this pull-back will find resistance somewhere around 1.5530/1.5600. GBPUSD