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Technicals

Forex Center > News > Technicals

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

29 Sep, 2008 @ 05:36 am ET

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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