Written by Bahagian Pentadbiran in
| GBP/USD Daily Forecast
Wed,April 20, 2011 | Dear Fellow Trader,
Setyo here with the latest daily forex update from the FX Instructor Forex Blog.
If you have any questions about today's update - please reply to this email and I will be happy to help. | | The GBPUSD had a bullish momentum yesterday topped at 1.6337 and now slip above the bearish channel as you can see on my h4 chart below. The bias is bullish in nearest term testing 1.6400/20 key resistance area. Immediate support at 1.6300. A clear break below that area would lead us to neutral zone in nearest term testing 1.6220 support area. A quick look at daily chart reveals that price has been moving in a sideways condition between 1.6400 - 1.5950 and need a clear break on either side to see clearer direction. Please click here to see how I applied my technical studies to this pair on the 4 hour chart a few minutes ago. |
| I hope you enjoyed today's forex update! If you have any questions or suggestions, reply to this email - or visit me at the FX Instructor Blog. Happy Trading! | | | Analyst Profile Living in East Java, Indonesia and holding an International Relations degree, Setyo Wibowo began his forex trading career in 2000 as a market analyst, while learning to trade forex independently on his own. to learn more about Setyo Wibowo. |
| | | | | |
FX Instructor, LLC | 16192 Coastal Hwy | Lewes | DE | 19958 |