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August 5, 2014

GBP/USD Daily forex post- US session August 5, 2014

Posted by: ffs @ 12:49 GMT Category: Daily Forex,GBP/USD,Signals

GBP/USD Technical view

Updated:  August 5, 2014 12:49:55 GMT
SPOT GBP/USD Previous day OHLC
Open High Low Close Change
1.6819 1.6863 1.6811 1.6862 0.0042
Today's Support and Resistance
Resistance
Support
R3 1.7060
R2 1.6960
R1 1.6930
S1 1.6800
S2 1.6780
S3 1.6700

Sterling inching lower versus the greenback, in a volatile session within a narrow range. The pair failed to extend gains from the earlier session, indicating near term weakness. Supports at 1.6780- 1.6800 could be tested, before the UK currency heads to 1.6950- 1.7050

Trend direction

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

Trading Recommendations

  • Short:

    • N/A
  • Long:

    • Long the pair at 1.6780 with stops at 1.6740 for targets of 1.6950
Post ID: 9731
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