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Technical Analysis Reports

Forex Center > News > Technical Analysis Reports

GBP/USD - British Pound Dollar, European Session - 20/11/08

19 Nov, 2008 @ 10:52 pm ET

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1,4956. GBP USD is in a range between 1,4900 and 1,5090. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 1,4900 (56 pips). The price should continue to move in Bollinger bands. If the support is broken then the target will be 1,4800 (156 pips). We won't take a position. The risk/reward ratio is too high to take a position..

Resistances: 1,5000 - 1,5095
Supports: 1,4900 - 1,4800