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GBPUSD October 20th

Mon, Oct 20 2008, 10:13 GMT
by Forex Hound Analysis Team

ForexHound.com


GBPUSD has moved slowly higher along the support trendline on Friday and in early Asian trading hours this week; the triangle is intact and a break outside this pattern could be the signal we've been waiting for. Looking carefully at how price action develops around the UK open to avoid a possible false break that can lead us in the wrong direction, that's why it is better to wait for the first retracement after the break.

GBPUSD


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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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