GBPUSD 24.01.2012 trade update

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GBPUSD H1 chart 23.01.2013

GBPUSD H1 chart 24.01.2013

Referring to the GBPUSD update on the 23.01.2013, The price filled the 1.5859 – 1.5892 box. After hitting the resistance of 1.5892 however, price could not move higher and broke back down into the 1.5802 – 1.5859 box. I mentioned in my 23.01.2013 outlook that if price does so I would be careful with my buy trades.

However I would continue to monitor the price action of the GBPUSD to spot for the momentum change. Till then I am staying neutral.