Forex intraday update on GBP/USD,EUR/USD and EUR/GBP

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Forex intraday update on GBP/USD,EUR/USD and EUR/GBP

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andy003 01-13-2009, 3:49 AM
Hello there all traders
Below is the daily intraday update on GBP/USD,EUR/USD and EUR/GBP
GBP/USD intraday: key ST resistance at 1.4775.
Pivot: 1.4775
Our preference: Short positions below 1.4775 with targets @ 1.4625 & 1.455 in extension.
Alternative scenario: Above 1.4775 look for further upside with 1.483 & 1.49 as targets.
Comment: the pair remains within a bearish channel, the RSI is still on the downside.

EUR/USD intraday: the downside prevails.
Pivot: 1.335
Our preference: Short positions below 1.335 with targets @ 1.32 & 1.312 in extension.
Alternative scenario: Above 1.335 look for further upside with 1.345 & 1.3493 as targets.
Comments: the pair stands within a ST bearish channel, the RSI is capped by a declining trend line and remains badly oriented.


EUR/GBP intraday: the upside prevails.
Pivot: 0.8955
Our preference: Long positions above 0.8955 with targets @ 0.9065 & 0.9113 in extension.
Alternative scenario: Below 0.8955 look for further downside with 0.8902 & 0.883 as targets.
Comment: the pair is on the upside and is challenging its resistance, the RSI is turning up.

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