The Advisor Weblog

Follow the markets with Valeria Bednarik, analyst and foreign manager at MolFX - Management

Or subscribe via email:

New ChartStation Section

Compare up to 22 different pairs at the same time, detach them, move them around, see them full screen size... and much more!

ChartStation

Next webinar

Outlook for the major currencies this week
by Ian Copsey
November 21, 08:30 GMT
Register for the webinar

FXstreet.com Weblogs

Links

Money and Markets

Gbp/Usd in the short term

Posted on October 2, 2008 at 11:03 in Short-Term Analysis by Valeria Bednarik

Another unstoppable bearish rally hear, the pair is right now attempting to break previous daily minimum; with no signs of exhaustion (not even talk about corrections) in 4 hours charts, the pair is addressing to next important support around 1.7562, (if daily minimum get’s broken) yet more likely the more stronger 1.7532 support. A confirmation under this last, will take the pair first, to the zone around 1.7476 and finally the year minimum, at 1.7441 that if broken, will find final support in the monthly ascendant trend line @ 1.7297. Resistances for today will be at 1.7670, 1.7727 and finally the zone around 1.7761.

Tags: gbpusd

Trackback URI | Comments RSS

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.