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Technicals

GBP/USD Technical Analysis 3 July 2008

03 Jul, 2008 @ 04:38 am EST
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GBP/USD 1.9885 - 3 July

GBP/USD Open 1.9944 High 1.9972 Low 1.9880 Close 1.9928

The British Pound continued consolidation against the US Dollar but also descended insignificantly yesterday from yesterday's top 1.9972, down to the bottom 1.9845, which are the the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.9810, followed by 1.9750. In upward direction next resistance for today is expected at 2.0050, the break of which would lead to next target 2.0130.

Technical resistance levels: 1.9970 2.0050 2.0130

Technical support levels: 1.9880 1.9810 1.9750

Trading range: 1.9895 - 1.9835

Trend: Downward

Sell at 1.9885 SL 1.9915 TP 1.9845

Today we made already +17 pips profit on GBP/USD from the following signal:

6:00 GMT+1 Sell GBP/USD at 1.9906 SL 1.9932 TP 1.9846 exited at 7:35 GMT+1

Today so far +107, yesterday +150, as shown at www.zifx.com/performance.php

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