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Technicals

GBP/USD - British Pound Dollar, American Session - 12/05/08

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12 May 2008 @ 09:51 am EST
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1,9579. GBP USD is in a range between 1,9560 and 1,9600. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Oscillators are neutral. The price should continue to move in 1,9460 / 1,9600 range. 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
1,9600 - 1,9630
Supports
1,9540 - 1,9460

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07/23/2008
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