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Where is Gbp/Usd heading

Posted on October 23, 2008 at 12:51 in Long-Term Analysis by Valeria Bednarik

Gbp/Usd continues falling apart: quoting right now at 1.6060, the objective for this movement is the zone around 1.5750, a projected line of monthly minimums. Indicators still are quite oversold, so, the idea in here is take your chances to the downside, in the bullish rebounds or correction, meaning wait for the pair to regain some ground close to a resistance zone, and there sell the pair.

Tags: gbpusd

2 Responses to “Where is Gbp/Usd heading”

on 24 Oct 2008 at 9:25 am1KRISHNAKUMAR

Dear Valeria,

GBP has broken all important support levels and collapsing…. now it is trading around 1.5496….. do u expect any retracement atleast towards 1.65 before 31st Dec 08…..

I need your kind reply as early as possible

regards

Krishna
on 24 Oct 2008 at 11:48 am2Valeria Bednarik

Hi Krishna! I hope recent post about GBP is the answer you need. The fact is that we need to see an imporant upside move, to consider a bullish correcion to that zone.
Hope it helps!
Regards
Val

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