Technical analysis GBP/USD 25 February 2013


Technical analysisIn the process of correction the pair could rise only to 1.5320/00 and met strong resistance, triggering further downgrade. The price hit a new low of 1.5050 mentioned in the previous comment, and is now at 1.5140/50. The indicators continue to show weakening signals and further decrease, which can be regarded as a formation of divergences warning of a possible next stop, i.e. a high probability of a new correction. Strong support in the area, where the pair mowed down could hamper further bearish trend. However, the medium-term perspective considers the downward trend that leaves targets at levels 1.4830/20 and 1.4600/10.

GBP/USD - 25.02.13


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Hello, my name is Arkady Nagiev and I’ve been working for Forex4you company since 2008. I received an economic education and worked in various sectors of former Soviet Union. After the dissolution of the USSR, I decided to engage in the banking sector. In 1994 I took "Banking" course in the Moscow International Financial and Banking School. After that, I worked in the banks of Turkmenistan and Ukraine. While working at the bank, I became interested in the foreign exchange market, which required additional knowledge and pushed me to study strategies and techniques for the analysis of foreign exchange instruments. At first, I thought that technical analysis would be enough, but I soon realized that I was wrong, and began to study fundamental analysis. I sincerely hope that my Forex reviews and financial analyses help our clients to gain a better understanding of the forex market. Good luck with your trading everyone!