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GBP/USD - British Pound Dollar, European Session - 14/05/08

14 May, 2008 @ 01:55 am EST

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1,9440. GBP USD is in an downtrend directed by 4H exponential moving averages. 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. The downtrend should continue on 1,9400 (40 pips) support. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances: 1,9485 - 1,9550
Supports: 1,9425 - 1,9400

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

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