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Finotec News Archive - August 29 2007

GBP/USD

GBP/USD Daily Technical Reports

Rodian Rahnayev
29 August 2007

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GBP/USD 30.8.2007

Price has continued to soar almost negating the shooting star reversal pattern on the daily charts from Monday and Tuesday. Monday’s 2.0190 high is the level to watch with a break above negating the prospects for a lower top and opening a fresh upside extension. Inability to take out the latter will keep the pressure on the downside.

Finotec Analysis Team
29 August 2007

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Time	Event	Currency	Period	Previous	Forecast	Significance	Actual
14:30	Crude Oil Inventories	USD	Weekly	1.9M
The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.

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Contract	Bid	Ask	Time	Change
GBP/USD	1.7047	1.7050	20:59:59	0.00%

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