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August 11, 2014

GBP/USD Daily forex post- US session August 11, 2014

Posted by: ffs @ 13:02 GMT Category: Daily Forex,GBP/USD,Signals

GBP/USD Technical view

Updated:  August 11, 2014 13:02:21 GMT
SPOT GBP/USD Previous day OHLC
Open High Low Close Change
1.6830 1.6834 1.6764 1.6772 -0.0060
Today's Support and Resistance
R3 1.6960
R2 1.6830
R1 1.6800
S1 1.6740
S2 1.6720
S3 1.6600

Sterling inching higher in a light session versus the dollar. The pair is however holding below key trendline resistances at 1.6800- 1.6830 and unless we see a close above the resistances in the next couple of sessions, the UK currency could drift lower to 1.6700- 1.6720

Trend direction

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

Trading Recommendations

  • Short:

    • N/A
  • Long:

    • Long Sterling at 1.6720 with stops at 1.6670 for targets of 1.6950
Post ID: 9799
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