British Pound Dollar (GBP/USD) - 08/05/2008 - Archive

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GBP/USD - British Pound Dollar

GBP/USD - British Pound Dollar

Short term (Intraday)

1,9551. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a resistance below 1,9610. The downtrend should continue on 1,9400 (150 pips) support.
=> We could take a short position at 1,9560. We will put the stop loss above 1,9620 (-60 pips). The targets are 1,9500 (+60 pips) 1,9400 (+160 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances
1,9610 - 1,9650
Supports
1,9500 - 1,9400
updated 08 mai 2008 13:48 GMT +02:00

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