GBP/USD Technical Analysis for August 5, 2011

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

GBP/USD fell precipitously on Thursday as traders found nothing but a wall of fear out there. The markets have turned decidedly bearish, and the Dollar is a bastion of safe haven trading. The jobs report us due out today, and could push this market around. If we can break below the 1.62 level – this market goes much farther down. We think the 1.65 level is going to be massive resistance, and sells could be done there.

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
About: FX Empire
CONTRIBUTOR

FX Empire is a financial portal offering news and analyses to professional traders, novice and expert alike, available in 15 languages. Our goal is to provide traders with all necessary trading tools – technical & fundamental trading strategy, opinions from experts in the field, charts, tools, and streaming news of the financial markets.

  View all of FX Empire's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.