RTFX TraderTip >> GBP-USD Analysis - Friday 23 October 2009

[RTFX-Trading]

RTFX TraderTip >> GBP-USD Analysis - 23 Oct 2009 The RF Tradertip™ is the presentation of Nostromo system that includes all the technical indicators and resumes the selected currencies pairs' situation on a daily, weekly and monthly basis. DAILY TECHNICAL ANALYSIS GBP-USD         Scenario Technical points Supports / Resistances Channels & Oscillator Elliott : elongated flat correction up 1.6744 Scenario for today Currently uptrend should end around 1.6673 - 1.6680 area. A correction down to below 1.6530 is expected. A rise above 1.6733 will abort the expected correction. Key point 1.6710 Entry point 1.6641 Elliott 1.5708 Closing 1.6626 Projection 1.6826 Trendline 1.6518 Trendline 1.6628 Res 2 1.6733 Ex-High 1.6637 Res 1 1.6680 Pivot 1.6583 Sup 1 1.6530 Ex-Low 1.6487 Sup 2 1.6433 1.6623 1.6570 1.6398 1.6345   Warning: End of trend - Imminent end of bullish move WEEKLY TECHNICAL ANALYSIS GBP-USD         Scenario Technical points Supports / Resistances Channels & Oscillator Elliott : flat correction up 1.6667 Scenario for this week Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6385 or 1.6600 if support around 1.6154 hold. After which a pullback to 1.6154 - 1.6031 zone is possible. Key point 1.6774 Entry point 1.6241 Elliott 1.5708 Closing 1.6355 Projection 1.6742 Trendline 1.6013 Trendline 1.6013 Res 2 1.6845 Ex-High 1.6399 Res 1 1.6600 Pivot 1.6154 Sup 1 1.5909 Ex-Low 1.5708 Sup 2 1.5463 1.6686 1.6518 1.5975 1.5807   Warning: Engulfing pattern MONTHLY TECHNICAL ANALYSIS GBP-USD         Scenario Technical points Supports / Resistances Channels & Oscillator Elliott : crucial reversal point Scenario for this month Market should not go lower than 1.5877 - 1.5588. After this move down it should go up to 1.6362 - 1.6559 area. Key point 1.6532 Entry point 1.6513 Elliott 1.7043 Closing 1.5982 Projection 1.4949 Trendline 1.6742 Trendline 1.6441 Res 2 1.7136 Ex-High 1.6742 Res 1 1.6559 Pivot 1.6165 Sup 1 1.5588 Ex-Low 1.5771 Sup 2 1.5194 1.6982 1.6689 1.5740 1.5447   Visit all our analysis on http://www.rtfx.com Open a real account   |   Open a demo account

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.