Thursday
Aug 21st
GBP Future - Analysis |
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| Monday, 11 February 2008 | |
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Trendlines drawn on last publication on January 9th have been a valid tool for our analysis and we can consider them as good as they were. The lower blue trendline has represented a valid support for the GBP future. It tried to force on 21st - 23rd January but it bounced back firmly performing positively at the end of January.
Technically the GBP is moving in an area with strong support and resistance levels: support 1.9280 and 1.9195 and first resistance 1.9500. It is not clear yet its next movement, today is drawing a candlestick pretty much similar to the one drawn on Friday. We give a 68% probability that USD will be weaker and will push GBP future again towards the blue trendline.
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