GBP/USD Technical Analysis
/05.08.2013/ MBCFX
. The GBP/USD is trading within an ascending
channel as we notice on the daily chart, as the trading of the beginning of
this week closed on a Shooting Star which reflects the shift of the trend from
bullish to bearish. And according to that the GBP/USD retreated to the expected
targets.
We
also expect a further decline, and the next target will be towards the
Fibonacci level 38.2 % , which
corresponds to the Moving Average 100 at 1.5408, then 1.5380, which would represent
good opportunities to buy on the short term trading for the daily traders.
Concerning
the average term traders, we draw the attention of our dear traders that the general trend of
the pound is bearish, and we expect to reach the expected target of 1.5336
level .
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