British Pound Dollar (GBP/USD) - 08/02/2008 - Archive

GBP/USD - British Pound Dollar

GBP/USD - British Pound Dollar

Short term (Intraday)

1,9430. GBP USD is in an downtrend directed by 1H exponential moving averages. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum. The price should find a support above 1,9400. If the resistance is broken then the target will be 1,9200 (230 pips).
=> We could take a short position at 1,9430. We will put the stop loss above 1,9475 (-45 pips). The targets are 1,9330 (+100 pips) 1,9240 (+190 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances
1,9450 - 1,9475
Supports
1,9400 - 1,9330
updated 08 févr 2008 05:57 GMT +02:00

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