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Friday, August 23, 2013

GBP/USD TECHNICAL ARTICLE ON AUG 23


The gradual gain of GBP has occurred since July 10 for the GBP/USD. This tremendous trend is noted its gain of 800+ pips and it proved the insecurity for USD as well. 

Besides, there are several news releases have given favor to the GBP. But, remember GBP/USD is the significant pair and obviously it is shown the monthly zigzag movement. 

By the way, if the point 1.48126 is considered as a great support then we can surely predict the resistance as 1.57154. And it has attained its great resistance on August 21. The big picture pattern is clearly notified the trend to the trader. If, the indicator is right, it is being to start its downtrend. 

Today, the price is focusing to reach its greater resistance once again. The traders can strongly believe on this resistance and will anticipate the short to accomplish the near support of 1.55024.

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