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Gbp/Usd long and short term

Posted on September 11, 2008 at 10:44 in Long-Term Analysis, Short-Term Analysis by Valeria Bednarik

The pair is also close to a long term ascendant trend line, that also converges with the monthly 200 EMA around 1.7305/30. That seems to be the target zone for this huge fall, and a probable rebound zone if reached these days. Again an important confirmation should be needed to consider it broken, and in that case, the target zone will be around 1.6820.

Looking at smaller charts, the pairs is quite over sold, yet still bearish: under 1.7445, next support will be the zone around 1.7410 and finally 1.7362. Only above 1.7510 we could see some recovery in the pair, first to the zone around 1.7545/60 and finally to 1.7620.

Tags: gbpusd

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