Technical analysis of the GBP/USD parity on July 7th, 2010

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» Technical analysis of the GBP/USD parity on July 7th, 2010

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#1 07-07-2010 10:42:56

Bruno: Administrateur; Registered: 07-12-2008; Posts: 4541; Reputation : 0

Technical analysis of the GBP/USD parity on July 7th, 2010

Commentary of the GBP/USD parity :

The parity is currently testing the support at 1.51. As far as this level is support, we maintain to trade only long positions. The break out of 1.52 will give a new buy signal. However, if 1.51 is broken, we will stay neutral and a return on 1.5011 will be possible. Only the break out of this level will allow us to trade short positions.

http://www.tribuforex.fr/analyses/FOREX/gbpusd-07072010.png

See the previous analysis of the GBP/USD parity of July 6th, 2010

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» Follow up of Tribuforex analysis

» Technical analysis of the GBP/USD parity on July 7th, 2010

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FOREX stands for Foreign Exchange - which means currency market. The Forex market is where currencies are sold, bought, in the form of parity. On the Forex market, all currencies are traded in real time, 24h/24h, 7J/7J. The Forex is open since few years to individuals, single investors wishing to diversify their investments or pure speculators. The access to foreign exchange market for individuals is offered through Forex Brokers.
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