Where is Gbp/Usd heading

Gbp/Usd continues falling apart: quoting right now at 1.6060, the objective for this movement is the zone around 1.5750, a projected line of monthly minimums. Indicators still are quite oversold, so, the idea in here is take your chances to the downside, in the bullish rebounds or correction, meaning wait for the pair to regain some ground close to a resistance zone, and there sell the pair.
 
 

Original post by Valeria Bednarik

This entry was posted on Thursday, October 23rd, 2008 at 6:51 am and is filed under gbpusd, Long-Term Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.