Sponsors

GBPUSD Analysis - August 18, 2012

Long Term Forex Analysis | by ForexCycle.com | Saturday, 18 August 2012 04:18 UTC
GBPUSD stays in a trading range between 1.5393 and 1.5776. Lengthier consolidation in the range would likely be seen in a couple of weeks. Key resistance is at 1.5776, a break above this level will target 1.5900 area. Key support is at 1.5393, a breakdown below this level will signal resumption of the downtrend from 1.6301, then further decline towards 1.5000 could be seen.

For long term analysis, GBPUSD had formed a cycle top at 1.6301 on weekly chart. Further decline to 1.4500 area is expected over the next several weeks.

gbpusd daily chart

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.

Sponsors

Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.