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GBP/USD on crossroads

GBP/USD is between strong support and resistance zones. Upside is limited by the recent highs @ 2.0220 and the 50% retracement level @ 2.0240. The downtrend will continue if the support levels 1.9990 (recent lows) and 1.9970 (previous resistnace now support) are broken.

 GBP/USD

This entry was posted on Wednesday, March 12th, 2008 at 9:35 am and is filed under Technical 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.

3 Responses to “GBP/USD on crossroads”

  1. » GBP/USD on crossroads Says:
    March 12th, 2008 at 9:49 am

    [...] Minev wrote an interesting post today onHere’s a quick excerptGBP/USD is between strong support and resistance zones. Upside is limited by the recent highs @ 2.0220 and the 50% retracement level @ 2.0240. The downtrend will continue if the support levels 1.9990 (recent lows) and 1.9970 (previous … [...]

  2. GBP/USD on crossroads Says:
    March 12th, 2008 at 10:45 am

    [...] Minev wrote an interesting post today onHere’s a quick excerptGBP/USD is between strong support and resistance zones. Upside is limited by the recent highs @ 2.0220 and the 50% retracement level @ 2.0240. The downtrend will continue if the support levels 1.9990 (recent lows) and 1.9970 (previous … [...]

  3. 2 Forex Trading Says:
    April 24th, 2008 at 2:50 am

    2 Forex Trading

    Found your blog on yahoo - thanks for the article but i still don’t get it.

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