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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Friday, August 26, 2011

GBP/USD Outllook

Pound retreat from 1.6600 area extended below 1.6345/50 support area on Thursday to find support at 1.6258, around the 38.2% Fibonacci retracement of the July-to-August rise and support line at 1.6279/99, whose breach would trigger further downtrend towards 1.6217/37, Upside resistance at 6382-6425/48

By
M.Zohaib Gadit 

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