FXstreet.com

Short Term Analysis

0

0

GBPUSD rebounds from 1.7551

Mon, Oct 6 2008, 01:18 GMT
by Franco Shao

ForexCycle.com


Being contained by the support of 1.7445 (Sep 11 low), GBPUSD rebounds from 1.7551. The pair is now in consolidation to down trend. Rise towards 1.8000 zone to reach the next short term cycle top on 4-hour chart is possible in a couple of days. However, down trend will resume after consolidation, deeper decline could be seen to 1.7000 zone, and a break below 1.7551 will confirm the resumption of down trend.


GBPUSD 4H Chart


Archive

ForexCycle.com  | China
http://www.forexcycle.com/ | info@forexcycle.com

Legal disclaimer and risk disclosure

Investment and trading decisions are solely your responsibility. None of the ForexCycle.com newsletters or web site materials should be interpreted as a recommendation or solicitation to take any short or long positions, or to take any specific action.

Related reports

Market Thoughts - 24/11/2009 - The Current Market Sentiment 2 by FX Recommends
Tue, Nov 24 2009, 13:51 GMT

Technical Major Currencies Report - Technical Major Currencies MiddayReport by ecPulse.com
Tue, Nov 24 2009, 13:15 GMT

Commodities Daily - Commodities rallied yesterday but have generally fallen back this morning by Danske Bank A/S
Tue, Nov 24 2009, 13:03 GMT

Fundamental Currencies Comments - Currencies ahead of U.S. data by ecPulse.com
Tue, Nov 24 2009, 11:34 GMT

Daily Trading Forecast - USD Still Waltzes to the Same Tune by Swiss e Trade AG
Tue, Nov 24 2009, 10:58 GMT

gbpusd

View All

Related content


Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
Alpari (US), LLC
Contact the broker/FDM
Open a demo account
IG Markets
Contact the broker/FDM
Open a demo account
City Credit Capital (UK) Limited
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

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.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.