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Real-Forex daily review - GBP/USD - 04.07.2012

Discussion in 'Market Predictions and Reports' started by Real-Forex.com, Jul 4, 2012.

  1. Real-Forex.com

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    Real-Forex daily review - GBP/USD - 04.07.2012

    Tracking the GBP/USD pair
    Date: 03.07.2012 Time: 17:10 Rate: 1.5690
    4 Hour chart

    Last Review

    The price went back to the 1.5540 support level and went back to check the trend line which connects the lows (points 2 and 4). Breaching of the 1.5716 price level will indicate that it is possible that the price will check again the last peak on the 1.5777 price level. On the other hand, breaking of the 1.5660 price level will indicate that the price is headed towards the closest support on the 1.5613 price level.

    Current review for today
    The price is clearly supported by the dynamic support in the shape of the Bollinger’s moving average which sharply goes upwards and brings power to the ascending move. Breaching the 1.5716 price level will probably lead the price to check again the last peak on the 1.5777 price level. on the other hand, breaking the 1.5660 price level will probably lead the price towards the closest support level at first stage.

    You can see the chart below:
    3.

    Important announcements for today:
    09.30 (GMT+1) GBP – Services PMI

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