On last trading session, market profile British pound can be attributed to trend day. The British pound rose against the U.S. dollar after weak GDP data placed enormous pressure on the U.S. currency. On the day the fair price protection zones are located in areas VAL- 1.6805 and VAH- 1.6871. Control point POC was formed in 1.6823.
Forecast for Today
| GBP/USD Forecast For Today |
During today's Asian session, the British pound was trading in a narrow sideways channel against the U.S. dollar. During yesterday bulls are selected and tested weekly goal area VAL from August 4, 2009- 1.6894, which now is the first level of resistance. A move above this level will open new horizons for customers in the area of POC from August 2, 2009- 1.6933, and POC August 5- 1.6967. The farthest goal for today will be a test on the same day VAH- 1.6991 and VAH 6 August- 1.7031.
As for sales, they will all be limited to the first level of support VAH, April 30- 1.6871, below which the bears can also abut the VAH, April 28- 1.6854, and then the level of POC on the same day- 1.6842. The farthest goal is to test VAH April 29- 1.6830.
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