search CFD Spy

Advertising





Most Popular


got trading broker knowledge? Why not Submit a rating and review today!
Compare Online Trading brokers

1 Star2 Stars3 Stars4 Stars5 Stars
(Be first to rate!)
Loading ... Loading ...

October 28th, 2008, 4:15 am | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

GBPUSD dropped sharply to as low as 1.5269 last week. A short term cycle bottom has been formed. Sideways consolidation is expected in a couple of days. Initial resistance is at the down trend line on 4-hour chart, and key resistance is located at 1.6327 level. As long as 1.6327 level holds, we’d expect down trend to resume, and then deeper decline could be seen to 1.4500 zone.

Share this article:
  • Mixx
  • Facebook
  • TwitThis
  • Digg
  • Propeller
  • Reddit
  • Technorati
  • del.icio.us
  • StumbleUpon
  • Print this article!
  • E-mail this story to a friend!

About the author

forexcycle Forex Cycle. See more Forex Analysis from forex cycle.

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply