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Let's Gain - The Professional Signals Provider - Signals, Trading Systems, Technical Analysis

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Nov 20th
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GBP Future - Analysis

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11-02-2008
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.
 
gbp_usd.png

 
 

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GBP  Technical Analysis  USD  candlestick 




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