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GBP/USD - British Pound Dollar, American Session - 07/05/08

07 May, 2008 @ 09:10 am EST

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1,9569. GBP USD broke 1,9650 support. GBP USD is in an downtrend directed by 15min exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue on 1,9400 (170 pips) support. We won't take a position while the volatility is high.

Resistances: 1,9650 - 1,9710
Supports: 1,9550 - 1,9400

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GBP/USD - British Pound Dollar, American Session - 07/05/08

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