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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
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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