0 votes vote | Click to vote

GBP/USD - British Pound Dollar, American Session - 03/10/08

03 Oct, 2008 @ 05:06 am ET | written by Mataf


1,7669. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,7550 / 1,7850 range. If the support is broken then the target will be 1,7270 (399 pips).
We are waiting for a break of the support to take a short position.
Resistances
1,7735 - 1,7865
Supports
1,7640 - 1,7580

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