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Finotec News Archive - September 05 2007

GBP/USD stops at resistance 2.0230

Technical Analysis GBP/USD

Rodian Rahnayev
05 September 2007

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GBP 6.9.2007

Sharp rally breaks through 2.0130 and on through 2.0160. With daily trend indicators rolling over though and the slow stochs on the verge of a negative cross we will have decided to enter the short trade. The 100-day MA also coincides with a daily low from Aug 30th at 2.0045 and this is key going lower. Back above 2.0230 negates structure.

Finotec Analysis Team
05 September 2007

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Time	Event	Currency	Period	Previous	Forecast
14:00	Pending Home Sales m/m	USD	Jul	5.0%	-2.0%
Pending Home Sales m/m Measures the number of signed real estate contracts for existing single-family homes, condos and co-ops. An index of 100 is equal to the average level of contract activity during 2001.
12:15	ADP Nonfarm Employment Change	USD	Aug	48K	82K
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