4 Apr 2014; GBPUSD
There is only a major news on US non-farm employment change at 2030hrsSGT. Unless the change is significant, else I am expecting the GU to move side way today.
After the UK Service PMI yesterday at 1630hrsSGT, GU went down below the resistance at 1.6600.
Daily CCI continues to point to a down trend. Support at 1.6580 (Daily EMA55), then 1.6530 (Daily EMA100).
Resistance at 1.6615 (1 hour chart EMA200, as well as Fib Retracement). Next level resistance at 1.6650.
Do catch a good sell at resistance line. If doing buy, remember it is down trend so take small profits.
Because in a likely case today that GU is moving side, the price range is 1.6600 and 1.6580, it is possible to trade within this range. But remember to release position before news time in order not to be caught in a wrong position.
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