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GBP/USD - British Pound Dollar, European Session - 08/05/08

08 May, 2008 @ 01:54 am EST

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1,9517. GBP USD broke 1,9630 support. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum. The target is expected at 1,9400 (115 pips).

Resistances: 1,9545 - 1,9590
Supports: 1,9500 - 1,9400

For more forex information, go to www.mataf.net

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