GBP/USD Technical Analysis for July 5, 2011

The GBP/USD rose, but ended the Monday session forming a shooting star just under the vital 1.61 area. This could be a sign that we are going to attempt a breakdown of the 1.59 area again. That area signals for long-term shorts once broken. We are watching this pair to see if it gives us that opportunity.

Written by ForexMansion.com