Forex

 The descending wedge remains. At the auctions on Thursday on August, 28th bulls did not manage break strong level of resistance 1.8400 that has led decrease in the British pound in second half of day and already at the American session of the quotation have reached a two-year minimum located near level of support 1.8240. After testing of the given level the British pound has started to win back the losses gradually. Today at the Asian session it was possible to observe ascending correctional movement to the level 1.8330 which testing can be observed at present.

 It is necessary to notice that breakdown 1.8330 hardly will strengthen the bull moods as it followed by not less strong levels of resistance 1.8360 and 1.8400 which sliding averages 55 and 89 are.

 In case of a release from 1.8330 it is expected renewal movement descending. The potential purposes of bears are located on 1.8000 and 1.7940.

 Resistance levels: 1.8360/70, 1.8400 1.8420/30, 1.8460/70, 1.8500, 1.8510, 1.8550

 Current price: 1.8336

 Support levels: 1.8310/00, 1.8270, 1.8240 1.8210/00, 1.8170 1.8150/40, 1.8110/00