Archive for June, 2008

Forex weekly signals for June 9-13, 2008

Posted in Daily market comments by Practical trader on June 8th, 2008

GBPUSD pair has reversed as expected during previous weeks.

weekly market comments GBPUSD FOREX

Now, while now bulls are trying to bring the pair higher again it looks that they are running out of steam and expectations are for the pair maximum swing high around 1.9770 area.

There with Fibonacci resistance point and trend line resistance GBPUSD should descend again, where we will be looking for the opposite side of the triangle to be broken.

If so, there will be yet another retest of 1.9350 area after which the targets will be set to 1.9100.

Forex trading by practical trader.


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