GBP/USD Is In Wait & See Position 2011.03.09

The pair GBP/USD still not clear for me but the momentum of its down fall is showing that the pair is bearish.How ever the important watchful  resistance number will be 1.61835  and support 1.61258

GBPUSD maintains a bid tone for now. Break above (1.6218) may trigger further recovery of the GBPUSD. Going bellow latest swing low at (1.6080), however, would confirm continuation of the bearish trend, towards next objective downwards (1.5896).Our bias is on selling GBPUSD with a stop loss above (1.6218) for today.

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