Fibonacci Article (not about Fibonacci)

Source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=86714fa4-3efb-4b7a-a3be-466e04c4837d
Retrieved 23-Feb-2012 0035h
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Forex: GBP/USD slide stalls at key Fibonacci support
Wed, Feb 22 2012, 21:16 GMT | FXstreet.com
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    Forex: GBP/USD in sideways mode above 1.5650
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FXstreet.com (San Francisco) - GBP/USD was one of the weakest performers on Wednesday, having slid to fresh weekly lows below 1.5650 from an earlier daily high of 1.5812.

This sharp selloff came on the back of the Bank of England Meeting Minutes, which revealed that two members voted for a larger expansion of the bond purchase program than the £50 billion the bank agreed to in early February.

Technically speaking, the bear rally has stalled around the 38.2% retracement of the 1.5231/1.5929 swing, last quoted at 1.5665 with the paring recording a 0.70% loss as the Asia-Pacific session gets underway. Support levels are noted at 1.5640, 1.5600 and 1.5550, while resistance levels are seen at 1.5700, 1.5730 and 1.5770, according to the FXstreet.com Independent Analysis Team.
GBP/USD Feb 23 at 00:18 GMT
1.5666/68 (-0.01%)
H1.5674 L 1.5660
S3 	S2 	S1 	R1 	R2 	R3
1.5584 	1.5623 	1.5662 	1.5669 	1.5709 	1.5748
Trend Index [?] 	OB/OS Index [?]
Data updated on Feb 23 a 00:00 GMT (15-minute timeframe)
Slightly Bullish 	Extremely Oversold

    1D
    1M
    3M
    1Y

View tech. studies GBP/USD
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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