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GBPUSD - Free Forex Market Analysis

In FREE Forex Market Analysis section, we'll provide forex market traders mid-term technical analysis of major currency pairs. But first of all, you should go to FAQ page to read the expression of the signs and words that appeared on the forex market analysis charts. You may join our yahoo group if you want to receive the update alert immediately after the analysis had been posted. For daily forex analysis, you can subscribe our Short-Term Forex Market Analysis, now you can get it at no charge.

Saturday, September 9, 2006 at 02:41 GMT

GBPUSD broke the key support at 1.8774 and topped at 1.9142 on 4 hours chart. Further fall towards 1.8500 area to reach the next cycle bottom is possible in the next several days. On the other side, the next cycle bottom is nearing, key resistance is at 1.9090, a break above this level may signal the next cycle bottom. For long term analysis, the pair is moving lower to the next cycle bottom on weekly chart, and this cycle bottom would likely be above 1.8175 previous low support.

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