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GBPUSD: Maintains Above The 1.5470 Level |
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Technical Archives |
Written by FXTechstrategy |
Aug 27 10 17:56 GMT
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GBPUSD: Maintains Above The 1.5470 Level
GBPUSD: The pair is slightly biased to the upside following its move back above the 1.5470 level on Thursday. While it holds above that level, threats of a retarget of the 1.5701 level, its Aug 16'10 high remains with a breach of there targeting the 1.5996 level, its Aug 08'10 high with a violation of there creating scope for additional recovery towards the 1.6274 level, its Jan 24'10 high and even higher. On the downside, immediate support lies at 1.5470 with a break below there allowing for further weakness towards the 1.5371 level, its daily 200 ema. On a turn below that level, the 1.5122 level, its July 21'10 low will be targeted. Overall, GBP remains biased to the downside having broken below 1.5496/74 levels.
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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
