Sunday, August 21, 2005

GBP/USD Outlook: What Next?

GBP/USD daily chart - last 20 days (closing price at 19 Aug - 1.7948 )

Support: 1.7880 ... 1.7800
Resistance: 1.7995 ... 1.8060

I would like to see a close above 1.8000 in the next 2 days as a positive sign for the continue of the bullish price action seen last 15 days. If not, we could be (in trouble!!!) heading down towards 1.7800 level.

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