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Technicals

GBP/USD Technical Analysis 22 July 2008

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22 July 2008 @ 04:46 am EST
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GBP/USD 2.0020 - 22 July

GBP/USD Open 1.9981 High 2.0043 Low 1.9913 Close 2.0015

The British Pound started climbing yesterday against the US Dollar from Monday's bottom 1.9913 to today's top 2.0043, which are the the first support and resistance levels respectively for the currency couple today. If the positive trend continues, next resistance is expected at 2.0120, followed by 2.0240. In downward direction next support for today is expected at 1.9840, the break of which would lead to next target 1.9770.

Technical resistance levels: 2.0045 2.0120 2.0240

Technical support levels: 1.9915 1.9840 1.9770

Trading range: 2.0010 - 2.0070

Trend: Upward

Buy at 2.0020 SL 1.9990 TP 2.0060

Today we made already +35 pips profit on GBP/USD from the following signal:

5:57 GMT+1 Buy GBP/USD at 2.0008 SL 1.9982 TP 2.0068 exited at 7:52 GMT+1

Today so far +106, yesterday +140, as shown at www.zifx.com/performance.php

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