Friday December 10, 2010 - 05:14:16 GMT
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IKON GROUP - ikonfx.com/
Ikon Forex"GBP/USD Trend Analysis"
The quotation of GBP/USD on Thursday hit the new record high recently, whose forex price reached up to 1.5841.
Nevertheless, the overall data published by the Britain on Thursday were poorer than the expectation, and the weak euro became a burden on the trend of the GBP.
The trend in American hours dropped to 1.5712, and then there was a slightly callback.
The technical analysis and four hours chart saw that the there was the pressure on the upside of the red bearish channel.
Influenced and increased by the trend on Thursday, the trend failed to test the pressure position nearby 1.5855 of the upside of the red bearish channel.
Afterwards, the forex price was back to 1.5712.
Thus, the forex investors can open a short position in short term at the resistance level, and reference the support level and close the short position.
Forex trend analysis based on Ikon forex analyst â€“ Eric
Forex News from Ikon Group
Edited by Sarah
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