21st July 2008
GBP/USD 21/7/8
1) Short-term Intraday analysis.
As we could see on Friday, 1.993 break failed to develop further slippage down to 1.985 and today support level at 1.993 worked just fine. GBP is heading toward 1.997 intraday resistance level that is slightly lower a very strong resistance level at 1.9995.
Today’s trading range is between 1.993 and 1.999. Should it go out of the border, be aware of failed breaks.
Intraday sentiment: neutral
2) Weekly perspective.
1.994 was hit but returned back very fast so we consider that brake as unconfirmed. Pound is at just above its support level so today’s closing below 1.992 would give an additional support to downward movement.
Weekly sentiment: neutral
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