iFOREX.bg GBP/USD Technical Analysis 2 October 2008

Published 10/02/2008, 04:21 AM
Updated 01/01/2017, 02:20 AM
GBP/USD 1.7684 - 2 October
GBP/USD Open 1.8440 High 1.7874 Low 1.7612 Close 1.7700

The British Pound also continued descending significantly yesterday against the US Dollar from Wednesday's top 1.7874 to today's bottom 1.7612, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, as we expect for the moment, next support further down is expected at 1.7535, followed by 1.7450. In upward direction next resistance for today is expected at 1.7955, the break of which would lead to next target 1.8040.
Technical resistance levels: 1.7875 1.7955 1.8040
Technical support levels: 1.7610 1.7535 1.7450

Trading range: 1.7695 - 1.7630
Trend: Downward
Sell at 1.7684 SL 1.7714 TP 1.7644


Today we made already +60 pips profit on GBP/USD from the following signal:
5:57 GMT+1 Sell GBP/USD at 1.7704 SL 1.7730 TP 1.7644 TP reached at 8:17 GMT+1
Today so far +181, yesterday +163, as shown in details at our web site.

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