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iFOREX.bg GBP/USD Technical Analysis 23 July 2008

23-07-2008 - iForex.bg  |   Forex Technical Analysis
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GBP/USD 1.9931 - 23 July
GBP/USD Open 1.9981 High 2.0076 Low 1.9898 Close 1.9923

The British Pound also descended significantly yesterday against the US Dollar from Tuesday's top 2.0076 to the bottom 1.9898, which are the the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.9840, followed by 1.9770. In upward direction next resistance for today is expected at 2.0150, the break of which would lead to next target 2.0240.
Technical resistance levels: 2.0075 2.0150 2.0240
Technical support levels: 1.9900 1.9840 1.9770

Trading range: 1.9945 - 1.9880
Trend: Downward
Sell at 1.9931 SL 1.9961 TP 1.9891

Today we made already +35 pips profit on GBP/USD from the following signal:
5:56 GMT+1 Sell GBP/USD at 1.9939 SL 1.9965 TP 1.9879 exited at 7:14 GMT+1
Today so far +186, yesterday +106, as shown in details at our web site.




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iFOREX.bg - Forex Daily and Evening forecasts, direct real time signal recommendations for entry and exit trading positions for EUR/USD, USD/JPY, GBP/USD and USD/CHF, and forex news.

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DISCLAIMER:

iFOREX Ltd. is in the business of teaching analysis of forex trends, and proposing potential trading signals - not recommendations. All statements and expressions are the opinion of the forex experts at iFOREX Ltd. and are not meant to be either investment advice or a solicitation or recommendation to establish market positions. Our opinions are subject to change without notice. We strongly advise clients to conduct thorough research relevant to decisions and verify facts from various independent sources. The staff at iFOREX Ltd. is not to be held responsible for individual market positions, all trades that clients may take are based on their own final decisions. We do not accept any liability for any loss or damage whatsoever, that may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in the trading signals or in any accompanying chart analyses, whether communicated by word or message, typed or spoken by any of iFOREX Ltd. employees.
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