Beginner
Advanced
Economic Calendar »
FX Directory »
Submit an article »
0 votes vote | Click to vote

GBP/USD - British Pound Dollar, American Session - 29/09/08

29 Sep, 2008 @ 05:36 am ET | written by Mataf


1,8063. GBP USD broke 1,8260 support. GBP USD is in a consolidation after the last bearish movement. The volatility is high. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 1,7950. The consolidation should continue. If the support is broken then the target will be 1,7500 (550 pips).
We are waiting for a break of support to take a short position.
Resistances
1,8120 - 1,8260
Supports
1,7950 - 1,7780

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

Related Articles:

  • Size: t1 t2 t3
  • Print: print
  • Email: email
 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives