Forex trading signals and analysis for GBPUSD – 11 Aug 2014

Forex trading signals and analysis for GBPUSD – 11 Aug 2014

Analysis:

As expected, GBPUSD departed 1.68250 zone and moving toward 1.6700. The Cable closed last Friday at 1.67700 and currently trading around this range with bias downtrend and the move will be stronger when European session open.

Today is a quiet day with no significant event on schedule and we dont expect the market will move in wide range. However, we expect GBPUSD will continue to move down further today.

GBPUSDDaily - 11 Aug 14

Forex Trading Signal:

We will watch for sell signals around 1.6800 – 1.68300 today for safer entry to short the Cable again with target 1.6700-1.6730.

Resistant zone:

+1.7040 – 1.7065

+1.70

+1.6920

+1.68250

Support zone:

+1.6700 – 1.67300

ForexSignals247

 

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