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GBPUSD - Edging Towards The 1.5326 Level |
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Technical Archives |
Written by FXTechstrategy |
Sep 07 10 10:31 GMT
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GBPUSD - Edging Towards The 1.5326 Level
GBPUSD - With the pair's failure to establish a clear recovery strength occurring on Monday and a follow-through lower seen in early trading today, the bears are now on the verge of recapturing the 1.5326 level, its Aug 31'10 low. On a turn below that level, the 1.5122 level, its July 21'10 low will be targeted with a break aiming at further downside pressure towards the 1.5000. Alternatively, to reverse this view, a return above the 1.5470 level must be established to create scope for more strength towards the 1.5701 level, its Aug 16'10 high. Beyond the latter will eye the 1.5996 level, its Aug 08'10 high and then the 1.6274 level, its Jan 24'10 high.
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About the Author
Mohammed Isah
Market Analyst
www.fxtechstrategy.com
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report
