The U.K. pound fell to a one-week low after a government report showed economic growth stagnated in the second-quarter, strengthening the case for lower interest rates.
Technical view for the day 25.08.08
GBP R1: 1.8490 S1: 1. 8360
R2: 1.8510 S2: 1. 8320
chart pattern shows the currency to be on bear note for the day. Trading range is expected between 1.8380-1.8470 levels for the day. Currency is seen trading on the moving averages and stochastic still remains in oversold area thereby indicating the currency to be on bear note.
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