[tgamin]

GBP/USD 29/7/8

1) Short-term Intraday analysis.
Downtrend started in the middle of July is still on track but GBP is just on the resistance level. We are looking for a sharp upward movement or a strong bounce from the current levels (1.9935-1.996). Trading borders of the above-mentioned movements are within 1.975-1.996. We are neutral until it goes below 1.984 or above 2.000
Intraday sentiment: neutral
2) Weekly perspective.
Cable is still within upward movement but is already 50 pips below median and heading towards 1.987 support level. Sell short below 1.986 and buy long above 2.001.
Intraday sentiment: neutral