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iFOREX.bg GBP/USD Technical Analysis 29 August 2008
By: iForex.bg - 29-08-2008
0votesGBP/USD 1.8316 - 29 August
GBP/USD Open 1.8518 High 1.8396 Low 1.8244 Close 1.8296
The British Pound also descended significantly yesterday against the US Dollar from Thursday's top 1.8396 to the bottom 1.8244, which are the the first resistance and support levels respectively for the currency couple today. If the negative trend continues as we expect for today, next support is expected at 1.8180, followed by 1.8100. In upward direction next resistance for today is expected at 1.8465, the break of which would lead to next target 1.8550.
Technical resistance levels: 1.8395 1.8465 1.8550
Technical support levels: 1.8245 1.8180 1.8100
Trading range: 1.8330 - 1.8265
Trend: Downward
Sell at 1.8316 SL 1.8346 TP 1.8276
Today we made already +60 pips profit on GBP/USD from the following signal:
6:02 GMT+1 Sell GBP/USD at 1.8340 SL 1.8366 TP 1.8280 TP reached at 7:40 GMT+1
Today so far +140, yesterday +124, as shown in details at our web site.
Next Analysis: iFOREX.bg USD/JPY Technical Analysis 29 August 2008Content Provided by:
iForex.bg
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.
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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