Short Term Analysis
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GBPUSD might be forming a short term cycle bottom
Mon, Aug 18 2008, 01:11 GMT
by Franco Shao
GBPUSD might be forming a short term cycle bottom at 1.8512 on 4-hour chart. Key resistance is located at 1.8787, a break of this level will confirm the cycle bottom, and then further rise could be seen to test 1.8900 resistance. However, the rebound from 1.8512 is treated as correction to down trend. As long as 1.8900 level holds, we’d expect down trend to resume, and deeper decline is still possible after correction.
Published on Mon, Aug 18 2008, 01:14 GMT
Archive
- GBPUSD stays in the trading range between 1.6209 and 1.6618
Published On Thu, Jun 18 2009, 02:11 GMT - USDCHF pulled back from 1.0955 level
Published On Wed, Jun 17 2009, 05:37 GMT - EURUSD breaks above 1.4143 resistance
Published On Fri, Jun 12 2009, 03:56 GMT - GBPUSD formed a short term cycle bottom at 1.5801 level
Published On Wed, Jun 10 2009, 02:46 GMT - EURUSD rebounds from 1.3793 level
Published On Fri, May 29 2009, 03:00 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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