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    This blog consists of contributions from FXCM staff, executives and people that have a relationship with FXCM. In spirit of a blog, the posts are conversational and opinionated. However, they are not official FXCM policy and not double-checked for facts. The authors are providing information that they believe to be true or opinions they hold. To verify information or check official FXCM policy, please contact FXCM through the firm's official website, www.fxcm.com.

    • « Like to Trade News? | Home | The Bounce Is Your Friend »

    GBP/USD - More Room for Losses

    By DailyFX Updates | July 27, 2007

    The GBP/USD came below our favored first standard deviation BB yesterday. (see chart)  It has now also broken below the 20-SMA.  I am looking for the pair to move down at least another 100 pips to 2.0175 on a break of today’s low at 2.0275.  The reason why we need a break is because we are sitting at the 23.8% Fibonacci retracement at the moment. The fact that MACD has crossed lower is also bearish.

    gbpusd072707.jpg


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    Topics: DailyFX.com Updates |

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