DAILY FOREX ANALYSIS 7/23/2013

PAIR: GBPUSD

TECHNICAL STUDIES: Daily Pivot Points, Moving Averages(5,10,15,50,100,200), Bollinger Bands, RSI.

Daily Pivot Points: PP 1.5362. Open 1.5365. It opened today just above pivot point, so I am neutral from pivot point.
Moving Averages (5,10,20): SMA5 1.5315, SMA10 1.5223, SMA15 1.5140. Moving averages are below price, and are moving in upward direction SMA5&SMA10 have crossed middle band. SMA5 is untested for last 3 days.
Moving Averages(50,100,200): SMA50 1.5288, SMA100 1.5273, SMA200 1.5573. SMA50&100 are below price and are providing support, SMA200 is resistance.
Bollinger Bands:  Bollinger Bands are expanding, upper band in upward direction and lower band in lower direction. middle band is still straight. Price is above middle band so it is bullish.
RSI: RSI is 57 and its bullish.
Bias: My bias is technically Bullish as price is supported by SMA5,10,15,50,100, and middle bollinger band.
Risk:  Yesterday it did not move much, remained between PP & R1. And opened just at PP. So is it losing bullish momentum? I have to see today.
Trade Plan:
Bullish above: 1.5400
Bearish below:1.5334
CONTACT: newtraders01@gmail.com