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August 6, 2014

GBP/USD Daily forex post August 6, 2014

Posted by: ffs @ 03:00 GMT Category: Daily Forex,GBP/USD,Signals

GBP/USD Technical view

Updated:  August 6, 2014 3:00:07 GMT
SPOT GBP/USD Previous day OHLC
Open High Low Close Change
1.6862 1.6888 1.6843 1.6884 0.0022
Today's Support and Resistance
Resistance
Support
R3 1.7060
R2 1.6960
R1 1.6940
S1 1.6820
S2 1.6780
S3 1.6720

Sterling inched higher versus the dollar to end the second straight session with gains. Although the pair is pulling back from oversold levels, the gains may not sustain and the upside could most likely be capped at 1.6940- 1.6960. Immediate trendline supports at 1.6780- 1.6820, which are likely to be tested in the near term

Trend direction

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

Trading Recommendations

  • Short:

    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
  • Long:

    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
Post ID: 9743
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