Forex Analysis – May 28, 2008

20080528_gbpusd_1.gifGBPUSD Analysis.
GBPUSD broke below 1.9755 support and formed a short term cycle top at 1.9852 on 4-hour chart. The pair is now in correction to the up trend. Pullback to the up trend line from 1.9363 to 1.9463 is possible in a couple of days. As long as the trend line support holds, we’d expect up trend to resume and further rally to 1.9950 area could be seen after correction.

For long term forex analysis.

Get Your Free Elliott Wave Tutorial Now!

See also:
Forex Articles
Forex Reviews
Powerful Profit System
Automate Your Trading Profits
Boost your Profit to Extreme