Friday, December 05, 2008

GBP/USD is in downtrend

GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H, daily is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,4600 / 1,4800 range.



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