31 Aug 2009

GBP/USD Analysis:
Today UK is having a bank holiday. So it is all technical for today.

Support continue to be at 1.621 region. A good resistance was built up at 1.64. A likely performance for today will be for the pound to bound between this two price.

Overall for today, CCI is moving side, strongly support a squeeze. The hour chart further confirm the squeeze for the price range to be within 1.622 and 1.634.

So if you are trading long, be sure to let go at 1.620 and for short at 1.64 for short term trade today.