Finotec News Archive - May 07 2008

Technical oscillators supporting the bearish trend for the GBP/USD currency pair

GBP/USD – Market strategy is bearish, selling down till the 1.9560$ level

Tammy Wall
07 May 2008

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GBP/USD-market strategy can be a sell till the level 1.9560$
Technical oscillators supporting the bearish trend for the currency pair
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line. As seen on the chart there are two tops leading downwards to a selling trend.

GBP

Finotec Analysis Team
07 May 2008

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Time Event Currency Period Previous Forecast Significance Actual
19:00Consumer CreditUSDMar5.2B6.3B215.3Binformation
14:30Crude Oil InventoriesUSD3.8M25.7Minformation
14:00Pending Home Sales m/mUSDMar-1.9%-1.0%2-1.0%information
12:45Fed Governor Kroszner SpeaksUSD2information
12:30Nonfarm Productivity q/qUSDQuarterly1.9%1.5%32.2%information
12:30Labor Cost Index q/qUSDQuarterly2.6%2.5%22.2%information
08:30Industrial Production m/mGBPMar0.3%-0.1%3-0.5%information
08:30Manufacturing Production m/mGBPMar0.4%0.0%2-0.5%information

Real Time Forex Quotes

 Contract Bid Ask Time Change
GBP/USD 1.9675 1.9678 11:25:34 -0.00%

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