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August 8, 2014

GBP/USD Daily forex post August 8, 2014

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

GBP/USD Technical view

Updated:  August 8, 2014 3:00:59 GMT
SPOT GBP/USD Previous day OHLC
Open High Low Close Change
1.6850 1.6864 1.6821 1.6832 -0.0021
Today's Support and Resistance
Resistance
Support
R3 1.7080
R2 1.7060
R1 1.6950
S1 1.6830
S2 1.6790
S3 1.6720

Sterling inched lower to the dollar on Thursday, to settle near key medium term trendline supports at 1.6830. The near term bottom is not very clear as of now, although the pair could pause near supports at 1.6790- 1.6830. A close below and the UK currency should slide to the bottom end of the long term bullish channel at 1.6700- 1.6720. The near term bearish view will be negated ONLY if we see a strong close above 1.6950

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: 9775
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