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Forex Technical Report
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GBPUSD Going for 1.8500
Tue, Aug 19 2008, 10:59 GMT
by Forex Hound Analysis Team
Cable started once again to move lower, although we did expect it to stay around current level for a while longer if not even retrace. 1 hour chart displaying the last few days show the pair trading inside the 1.8800 and 1.85 making lower lows and forming a divergenge with the RSI 14(lower panel). The RSI also signaled a short opportunity when it bounced from the 50 line for those who were early risers this morning, but for the rest of us it is still pointing lower. Making a new low under the 1.8500 level will certainly reinforce the bearish bias and trigger some stops of those thinking a reversal was in place(me included).
Published on Tue, Aug 19 2008, 12:38 GMT
Archive
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Published On Tue, Feb 9 2010, 13:37 GMT - Dollar Falling as Traders Bet on Greek Rescue
Published On Tue, Feb 9 2010, 13:35 GMT - Equity Markets Finding Support but Need Catalyst for Rally
Published On Mon, Feb 8 2010, 21:37 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.
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.
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