|

Add to Favorites

Forex

Futures

Spread Betting

CFD's

The Fusion Media Network:

Fundamental

Technical

Futures

Central Banks

Forex Brokers

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=abba7dad' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=216&what=bannerid:462&n=abba7dad' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=aa59d8a1' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=266&what=bannerid:607&n=aa59d8a1' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=ab6fa4c4' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=178&what=bannerid:287&n=ab6fa4c4' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a65abcee' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=20&n=a65abcee' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a72a0668' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=250&what=bannerid:604&n=a72a0668' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a9f62d12' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=197&what=bannerid:370&n=a9f62d12' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=af78d5b1' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=201&what=bannerid:398&n=af78d5b1' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a755b3b9' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=212&what=bannerid:434&n=a755b3b9' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a08107bf' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=263&what=bannerid:596&n=a08107bf' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=aebed4f4' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=259&what=bannerid:579&n=aebed4f4' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a6d84836' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=181&what=bannerid:309&n=a6d84836' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a4c834ed' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=204&what=bannerid:417&n=a4c834ed' border='0' alt='' /></a>

Trading Tools

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a8148999' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?zoneid=42&n=a8148999' border='0' alt='' /></a>

GBP/USD Daily Analysis - Evening Session - GMT

By:

Forexpros.com

22-08-2008

0

votes

View Comments (0)

Previous Analysis | Next Analysis

	Text Size
	Print
	Email
	Add a Comment

Rate gives back all of yesterday’s gains; high volatility unexpected. Volumes only moderate suggesting that the rate is suffering from whipsaw. EURO holding most gains so far suggesting GBP is overextended. Rumors of a Lehman Brothers bailout from a Korean source is rallying the USD in early US trade. Traders note that volumes are modest and longs had stops in range. Close above the 1.8720 area argues for further gains; aggressive traders can get ready to add to open longs. Stop-driven break is likely a head fake in my view. Offers above the market mixed with stops from late shorts so be ready for whipsaw the next few days. Traders expect GBP to track EURO through this week. Continue to expect a lot of cross-trading.
Data due Monday: All times EASTERN (-5 GMT)
All Day GBP Holiday: Summer Bank Holiday

GBP/USD Daily
Resistance 3: 1.8850
Resistance 2: 1.8820
Resistance 1: 1.8780
Latest New York: 1.8557
Support 1: 1.8550/60
Support 2: 1.8520/30
Support 3: 1.8500

Share:

Digg

Del.icio.us

Next Analysis: EURO/USD Daily Analysis - Evening Sessison - GMT

Content Provided by:

Forexpros.com
With a solid background in financial markets, our goal is to provide both novice and experienced traders with neutral and unbiased information on specific financial segments, including Brokers, Fund managers, Real-time quotes & charts, Courses, Books, Software Providers, Educational & Traini

DISCLAIMER:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Comments

Become a member and get 6 free Forex courses by OTA!

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a2ce5364' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?zoneid=46&n=a2ce5364' border='0' alt='' /></a>

Webinar

Charts

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a2ce5364' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?zoneid=46&n=a2ce5364' border='0' alt='' /></a>

Survey

How many analyses do you read on daily basis?

	Weekly Analysis		Forex Lessons
	Site Updates

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a2ce5364' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?zoneid=46&n=a2ce5364' border='0' alt='' /></a>

Special Offers:

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=adef65d6' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=98&n=adef65d6' border='0' alt='' /></a>

<a href='http://cads.forexpros.comwww/delivery/ck.php?n=a4434995' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=192&what=bannerid:351&n=a4434995' border='0' alt='' /></a>

<a href='http://cads.forexpros.com/www/delivery/ck.php?n=a88fc306' target='_blank'><img src='http://cads.forexpros.com/www/delivery/avw.php?campaignid=108&n=a88fc306' border='0' alt='' /></a>

Browse The Entire ForexPros.com Site:

News

Charts

Quotes

Forex To Go

Forex Analysis

Languages

Forex Brokers

Fund Managers

Forex Trading Software

Education

Trading Tools

2007 Fusion Media Limited. All Rights Reserved About Us | Advertise | Affiliate Program | Link To Us | Webmaster Tools | Write to us | Contact Us
Risk Warning | Terms And Conditions | Privacy Policy

Risk Disclosure: Trading on margin involves high risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you before deciding to trade you should carefully consideryour investment objectives, level of experience, and risk apetite. There is always a relationship between high reward and high risk. Any type of market or trade speculation that can yield an unusually high return on investment is subjected to unusually high risk.