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Today's Market View - GBPUSD
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Default Today's Market View - GBPUSD - 08-20-2008

While daily indicators give signals of reverse, the daily Bollinger Bands becomes wider, increasing risk of furhter falling. Hour support goes through near $1,8554, but break below $1,8510/20 can show the Cross the way and allow it to fall to the long-term line of support at $1,8428.

RES 4: $1.8900 23.6% Fibonacci correction level
RES 3: $1.8838 low of Nov. 2006
RES 2: $1.8785 high of 14 Aug.
RES 1: $1.8720 high of 18 Aug.

Current course : $1.8584

SUP 1: $1.8510/20 low of Aug. 2008, correction low of Oct. 2006
SUP 2: $1.8428 Support line from 18 Sept. 2007
SUP 3: $1.8332 100% projection level between $2.1158 - $1.9339, built from $2.0151
SUP 4: $1.8300 lower line of Bollinger Bands





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Today's Market View - GBPUSD
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Default Today's Market View - GBPUSD - 08-22-2008

The Cross GBPUSD tested the level of 1,8630, where, traders said, stops were set. Before the publication of GDP data in Great Britain as a 2nd quarter the British Pound fell to the mark of 1,86558, and after the publication the fall of Pound continued. Ask in the background of take profit swallowed up executed stops. A break below this level conditions a movement to 1,8610/00.

According to the Department of National Statistics, in the 2nd quarter the British economics did not rise. In the yearly ratio the rate of growth consists 1,4%. Activity in the service sector was reviewed to reduction to 0,2% qu/qu from 0,4%. It is the lowest indox from 1995 years.

GBPUSD (M01)

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