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GBPUSD Analysis 2011.02.17

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Overall the direction remains unclear. GBPUSD might close below (1.5976). If seen this will call for more declines to the (1.5888) level. Further down, support is located at (1.5791). Alternatively, above the (1.6195) level it will to be traded to resume its medium term uptrend towards its important resistance at (1.5689).Look for a close above/below either barrier.

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EURUSD Analysis 2011.02.17

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We can say that additional bearish movements could be seen during current session, particularly if it succeeded to maintain prices below (1.3598) zones. A proper confirmation would occur if the EURUSD will manage to fall beyond the (1.3527) support level.Our bias is on selling EURUSD with a stop loss above (1.3598) for today.

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