GBP/USD - British Pound Dollar, European Session - 16/05/08
1,9480. There is an horizontal range between 1,9425 and 1,9500. Support and resistance are given by Bollinger bands. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,9400 / 1,9525 range. We won’t take a position. The risk/reward ratio is too high to take a position..
- Resistances
- 1,9500 - 1,9525
- Supports
- 1,9460 - 1,9400
This entry was posted on Friday, May 16th, 2008 at 7:55 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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