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Technicals

GBP/USD Technical Analysis 16 May 2008

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16 May 2008 @ 04:37 am EST
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GBP/USD 1.9466 - 16 May

GBP/USD Open 1.9534 High 1.9522 Low 1.9405 Close 1.9469

The British Pound rose insignificantly against the US Dollar and and reached 1.9522 this morning, which is the first resistance for today. If the positive sentiment continues, next resistance is expected at 1.9580, followed by 1.9630. In downward direction first support today is expected at yesterday's bottom 1.9400, followed by 1.9320, and 1.9250.

Technical resistance levels: 1.9520 1.9580 1.9630

Technical support levels: 1.9400 1.9320 1.9250

Trading range: 1.9455 - 1.9530

Trend: Upward

Buy at 1.9466 SL 1.9436 TP 1.9516

Today we made already +30 pips profit on GBP/USD from the following signal:

6:03 GMT+1 Sell GBP/USD at 1.9483 SL 1.9509 TP 1.9423 exited at 7:19 GMT+1

Today so far +92, yesterday +97, as shown at www.zifx.com/performance.php

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