Finotec News Archive - May 08 2008

Technical oscillators support the bullish trend for the currency pair

GBP/USD – Market strategy can be a buy at the level 1.9524 and a stop loss at the level 1.9510

Joana Fonseca
08 May 2008

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GBP/USD – Market strategy can be a buy at the level 1.9524 and a stop loss at the level 1.9510

Technical oscillators support the bullish trend for the currency pair

To support our technical analysis we will use oscillators such as MACD (Moving Average Convergence Divergence); we see that the selling pressure is losing traction; also we notice the signal line is pointing to cross the long EMA line up, revealing an upward trend. There are two bottoms up leading to a buying trend, according to Bollinger. RSI (Relative Strength Index) line is under the oversold level, which may represent a buying signal.
GBP/USD

Finotec Analysis Team
08 May 2008

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Real Time Forex Quotes

 Contract Bid Ask Time Change
GBP/USD 1.6330 1.6336 20:59:40 -0.00%

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