GBP/USD - British Pound Dollar, European Session - 09/05/08
1,9552. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should find a support above 1,9500. If the support is broken then the target will be 1,9400. We won’t take a position. The risk/reward ratio is too high to take a position..
- Resistances
- 1,9570 - 1,9615
- Supports
- 1,9500 - 1,9450
This entry was posted on Friday, May 9th, 2008 at 8:09 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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