American Session-August 13, 2008-Update

No change in the intraday outlook for EURUSD, AUDUSD, USDCHF and USDCAD, as all remain in their current consolidation pattern with the little prospect for intraday trade opportunity. As to GBPUSD, our heads are in our laps;our system confirmed a sell at the 13:00 GMT close at 1.8748, and of our trade criteria was met except the risk:reward. GBPUSD had recent been as high as 1.8798 30 minutes prior to our confirmation, so, the stop loss requirement would have been above that level and added to that the fact that GBPUSD had already moved 3 big figures on the day, we decided not to send out the alert and stand aside. So, at this writing, we do not see any low risk intraday trade opportunities. We wil have more updates later.

Forex Signals Plus, RW