7/19/2010 - GBP/USD - THE VULCAN REPORT Review of British Pound FOREX (GBP USD) as of Friday, July 16, 2010

 THE VULCAN REPORT
Review of British Pound FOREX (GBP USD)
as of Friday, July 16, 2010

Today's Price Action

Change   -0.0161 (-1.04%)

Weak Bids into the close.

MARKET SENTIMENT
 
PulseScan Swing Vix

PulseScan:     30.13
Swing Vix:     29.67

The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    1 period(s) ago. The Swing Vix is above 29.  This is where it usually forms Resistance.  The Swing Vix usually forms Resistance before the underlying security.
A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area.
The last signal was a Over-Bought Sell  6 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The Swing Vix and price are not diverging.
        Since the last Swing Vix signal, British Pound FOREX's price has decreased 1.04%, and has ranged from a high of 1.5470 to a low of 1.5235.
     
       MOMENTUM
     MARKET TREND - Currently the TREND is .
        TREND STRENGTH -
TRENDLINE RETRACEMENT
The close is currently Below it's Long Term TRENDLINE RETRACEMENT. -   1.5170
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. -   1.4981
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. -   1.5207


         INTRADAY PRICE PROJECTIONS
        RESISTANCE   1.5421
        SUPPORT   1.5319

       WEEKLY PRICE PROJECTIONS
       RESISTANCE   1.5239
       SUPPORT   1.4948

MONTHLY PRICE PROJECTIONS
Long term Trend Line resistance is currently at -   1.5170
Long term Trend Line support is currently at -   1.3300
BEAR MARKET DOWNTREND - (12-18mo)  PRICE TARGET =   0.9561
   
       VOLATILITY
On 7/16/2010, British Pound FOREX closed 
below the upper band by 18.5%.

This combined with the steep uptrend suggests that the upward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.


     IN PLAY

BULL MARKET LONG/SHORT Signals : 

THIS SECURITY IS NOT IN PLAY AT THIS TIME!

BEAR MARKET LONG/SHORT Signals :  

THIS SECURITY IS NOT IN PLAY AT THIS TIME!

This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents. 
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