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August 1, 2014

GBP/USD Daily forex post- US session August 1, 2014

Posted by: ffs @ 13:23 GMT Category: Daily Forex,GBP/USD,Signals

GBP/USD Technical view

Updated:  August 1, 2014 13:23:58 GMT
SPOT GBP/USD Previous day OHLC
Open High Low Close Change
1.6913 1.6926 1.6855 1.6884 -0.0029
Today's Support and Resistance
Resistance
Support
R3 1.7100
R2 1.6960
R1 1.6920
S1 1.6830
S2 1.6800
S3 1.6770

Sterling all set to end another week in the negative, the fourth in a row. The pair however came off the session lows after grazing key trendline supports at 1.6800. Expecting the declines to extend to 1.6770- 1.6800 before Sterling could rebound to 1.7100. Long on declines leading to the supports

Trend direction

  • Short term: Bearish
  • Medium term: Bullish
  • Long term: Bearish

Trading Recommendations

  • Short:

    • N/A
  • Long:

    • Long the pair at 1.6800 with stops at 1.6750 for targets of 1.6920
Post ID: 9692
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