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Forex Center > News > Technicals

GBP/USD Technical Analysis 25 January 2008

25 Jan, 2008 @ 04:51 am EST

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GBP/USD 1.9809 - 25 January

GBP/USD Open 1.9763 High 1.9844 Low 1.9498 Close 1.9737

First and strong resistance for the Cable today is 1.9890. Next is the top from 28 December at 1.2010, followed by 2.0110, where the 500 day crawling middle line passes. In downward direction support is expected at 1.9630, which is 37.8% correction of the climb 1.9340 - 1.9820. Next is the bottom from Wednesday 1.9480, and 1.9370, where the 100 week crawling middle line passes, which reacted on Tuesday but was not convincingly broken.

Technical resistance levels: 1.9890 1.2010 2.0110

Technical support levels: 1.9630 1.9480 1.9370

Trading range: 1.9820 - 1.9735

Trend: Downward

Sell at 1.9809 SL 1.9839 TP 1.9749

Today we made already +60 pips profit on GBP/USD from the following signal:

6:07 GMT Buy GBP/USD at 1.9776 SL 1.9750 TP 1.9836 TP reached at 7:37 GMT

Today so far +134, yesterday +147, as shown at www.zifx.com/performance.php

For more forex information, go to www.iForex.bg

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