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Currency Technical Report
Tue, Oct 21 2008, 09:54 GMT
by George Antonakos
GBP/USD
Resistance:1,7180-00/ 1,7240-50/ 1,7280/ 1,7330/ 1,7350-60
Support : 1,7100/ 1,7080/ 1,7050/ 1,7020/ 1,6970/ 1,6930…
Comment: The pound started yesterday with a false break. The retracement below 1,7350 indicated the next move.
Support at 1,7080-00 will probably be tested today. A break will probably lead to 1,7000 and then 1,6800...
Important resistance is found at 1,7200 and 1,7250 .
STRATEGY
Buy : We will try small buy positions at 1,7060-80 with stops below 1,7040. Otherwise, we could buy at a possible break of 1,7200 with target at 1,7270-80… Stops will be set below 1,7170…
Sell: Sell orders could be tried at 1,7190-00, with stops above 1,7130 and target at 1,7100. A clear break of 1,7050 may be used for sell orders and target at 1,6900…
Visit our site for more Currency technical analysis at http://www.fxgreece.gr/en/forex.asp
Technical analysis-Comments
G. Antonakos
Head of Analysis Dept.
DISCLAIMER
1. The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
2. We assume no responsibility for any kind of losses, profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
3. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
4. We reserve the right to change the terms and the characteristics of the analysis.
5. The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights
Published on Tue, Oct 21 2008, 11:59 GMT
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- The details and information included in the provided analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
- We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
- The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
- We reserve the right to change the terms and the characteristics of the analysis.
- The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.
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