Forex Weekly Reports Written by Finotec Group Aug 06 07 08:18 GMT
Headlines: Sterling looks brighter against the US dollar
LONG SIGNAL GBP/USD
Headlines: Sterling looks brighter against the US dollar
LONG SIGNAL GBP/USD
Buy a break of resistance level at 2.0500
Buy a break of resistance level at 2.0475
Buy a bounce at 2.0370
Buy a break of resistance level at 2.0475
Buy a bounce at 2.0370
SHORT SIGNAL GBP/USD
Sell a break of support level at 2.0370
Sell a break of support level at 2.0335
Sell if cannot break the resistance 2.0475
Sell a break of support level at 2.0335
Sell if cannot break the resistance 2.0475
The GBP may continue the uptrend against the US dollar; according to technical charts traders predict the price movements by using many time frame analysis, and oscillators like RSI, which gives us bullish signals. The daily chart shows that the GBP/USD recently continues the uptrend and fail to make lower then the previous support 2.0221.
* The following analysis is for information only; Finotec is not responsible for any decisions or misinterpretations based on the given text
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