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GBPUSD - Set To Resume Short Term Uptrend. |
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Technical Archives |
Written by FXTechstrategy |
Jul 23 10 11:01 GMT
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GBPUSD - Set To Resume Short Term Uptrend.
GBPUSD - A follow-through higher on its Thursday gains has seen the pair pushing further higher in early trading today. This development now suggests a move higher towards the 1.5470 level, its July'15'10 high. With a break through there resuming its short term uptrend towards its April 15'10 high at 1.5521 and possibly higher. Alternatively, on pullbacks the pair should target its violated trendline at 1.5226. This level is expected to hold and provide support thus turning the pair higher again. Further down, the 1.4947 level, its July 12'10 low comes in as the next support with a clearance of there aiming at the 1.4872 level, its July 01'10 low.
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About the AuthorMohammed 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 |
