Price momentum still showing bearish tends, my daily pivot system either. However, the latest double bottom (1.9362) make me doubt a bit. There could be a trend change and if it is, I expect gbp/usd price will go north breaking 1.9447 till -probably- 1.9502 (previous resistance). The latest scenario could probably happen as an impact of Retail Sales release (9.30 am GMT).

Today’s Forex Signals 21-02-2008
Best time to place this order: 05.00 GMT

GBP/USD
Stop/Limit/Market Order
sell @1.9407

Set Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 1.9427

Below is previous (20-02-2008) trade and it’s result:

GBP/USD
Stop/Limit/Market Order
sell @1.9472

Result: +20 pip profit
-

If you’re relatively new to this blog, you might want to read below articles for better understanding about this free forex signals service :

• Order Placing Time
• How to set up an order

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