Past performance is not a guarantee of future results. Please remember that technical analysis is only a tool for trading and even targeted analysis is no guarantee of profits. Forex trading carries a substantial risk of loss and only discretionary capital should be used in trading.

Forex Trading - Sterling Continues to Weaken

Posted by Alex Chernomordin on Sun, 08/24/2008 - 9:48pm in

The big mover on a light volume trading session to begin the week has been the Sterling. Sterling pairs are trading lower across the board, with the Cable hitting 2 year lows on an abrupt move lower. The Cable at the end of last week broke the 200 hour moving average twice, see the attached chart. The GBP/CHF pair is also approaching the full retracement of its recent August 14th lows, see the chart below.

Alex Chernomordin's blog
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