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16 January 2007

Today's Signal - GBP/USD

GBP/USD - British Pound Dollar

Short term (Intraday)

1,9660. GBP/USD is in an uptrend supported by 1H exponential moving averages. GBP USD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. Forex Trend 1H, daily is in a bullish configuration. 4H Stochastic indicate a bullish pressure on GBP/USD. The uptrend should continue on 1,9780 resistance. The price should find a support above 1,9620.

=> We could take a long position at 1,9650. We will put the stop loss below 1,9615 (-35 pips). The targets are 1,9730 (+80 pips) 1,9780 (+130 pips). Each trade is dangerous, take care and put your stop loss.

Resistances

1,9670 - 1,9680 - 1,9730

Supports

1,9620 - 1,9585

 

posted by GoldenFX @ 12:14:00 AM

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