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| GBP/USD Daily Forecast
Mon, August 18 2014 | Dear Fellow Trader,
Setyo Wibowo 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. Enjoy!
| The GBPUSD continued its bearish momentum last week but found a strong support at the daily EMA 200 as you can see on my daily chart below. I still prefer a bearish scenario at this phase but we need a clear break and consistent movement below the daily EMA 200 and 1.6670 key support area to continue the bearish scenario with nearest weekly target seen around 1.6450. Important intraday range to be closely watched is seen between 1.6670 - 1.6770. A clear break above 1.6770 could trigger further bullish pressure testing 1.6810 or higher. Please click here to see the chart. |
| | 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! | | | | | | | |