Search Our Site:  
August 12, 2014

GBP/USD Daily forex post August 12, 2014

Posted by: ffs @ 03:04 GMT Category: Daily Forex,GBP/USD,Signals

GBP/USD Technical view

Updated:  August 12, 2014 3:04:50 GMT
SPOT GBP/USD Previous day OHLC
Open High Low Close Change
1.6782 1.6795 1.6767 1.6786 0.0014
Today's Support and Resistance
Resistance
Support
R3 1.6950
R2 1.6900
R1 1.6840
S1 1.6780
S2 1.6740
S3 1.6720

Sterling inched higher versus the dollar in a light session on Monday, settling close to key trendline supports at 1.6780, after breaching the levels briefly. The near term view remains bearish with the pair likely to test supports at the bottom end of the long term bullish channel at 1.6700- 1.6720. Upside for now should be capped around the 1.6800 zone

Trend direction

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

Trading Recommendations

  • Short:

    • N/A

  • Long:

    • Long Sterling at 1.6720 with stops at 1.6670 for targets of 1.6950
Post ID: 9811
Please Read This Warning

These signals are given free for educational purposes only. We do not suggest anyone use real money for foreign exchange trading online and we do not accept any kind of responsibility for loss or damage resulting if you choose to ignore this warning.

Get Signals By E-mail:
Markets Hours
 
Auckland Closed
Sydney Closed
Tokyo Closed
Hong Kong Closed
Singapore Closed
Moscow Closing
Frankfurt Open
Zurich Open
London Open
New York Opening
Chicago Closed
Vancouver Closed

BuyBer Candlestick Pattern Recognition indicator for MetaTrader platform

© 2005-2014 FreeForexSignal.com. All Rights Reserved. Terms & ConditionsPrivacy

Disclaimer:

Commodity futures trading commission forex, futures, and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the forex, futures, and options markets. Don't trade with money that you can't afford to lose. This is neither a soliciatation nor an offer to buy/sell forex futures or options. No representation is being made that any account will or is likely to acheive provides for losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

Cftc rule 4.41:

Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.