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Thread: Gbp/usd

  1. #1
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    Default Gbp/usd

    The British pound preferred to move towards the upside yesterday due to the tendency to breach the key resistance level at 2.0130 to reach the levels of 2.0170s. This move might consider a new wave towards the upside after the pound has ended the correctional move at the end of the last week to set the upside target at 2.0280s.

    The trading range for today might be between the key resistance level at 2.0250 and the key support level at 2.0090.

    The general trend is up as far as 1.9790 and 1.9550 remains intact targets now at 2.0300 and 2.0440
    buying sterling above 2.0150 with a target of 2.0220, stop loss below 2.0100.

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    Do you think G/U will hit 2.03? With this constant push upwards I'm expecting one hell of a fall in a month or two

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    Daily Pivot Points Summary

    GBPUSD 2.0168 2.0095 2.0149 2.0034 2.0064 2.0107 2.0137 2.0180 2.0210 2.0253 20:00 GMT

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    4 Hours Pivot Points Summary

    GBPUSD 2.0271 2.0161 2.0230 2.0060 2.0110 2.0170 2.0221 2.0281 2.0331 2.0391 20:00 GMT

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    Hourly Pivot Points Summary

    GBPUSD 2.0272 2.0261 2.0271 2.0254 2.0257 2.0264 2.0268 2.0274 2.0278 2.0285 21:00 GMT

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    Uptrend is still intact in a triangle configuration. It should continue to rally to 2.032 or 2.0387 if support around 2.0228 hold. After which a pullback to 2.0228 - 2.0201 zone is possible.

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    what indicators are u using?
    it's stucked on 2.0315, as u are predicting 2.0320... and it's so close
    so will it go down now?

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    trend up? am I right?

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    2.0324. While below 2.0376 it is more likely to fall further towards 2.0285 or 2.0258. Premature rise above 2.0376 could see it rising above 2.0429 zone

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    Default Sell at 2.0245

    Failure to penetrate indicated res at 2.0345 n
    current retreat suggest consolidation below y'day's
    high at 2.0363 wud continue, however, reckon 2.0282
    (prev. res) wud limit downside n yield rebound, abv
    said res wud confirm upmove has resumed, 2.0363.

    Buy on marginal weakness with stop as suggested
    n take profit on subsequent rise...

    Range Forecast
    2.0305 / 2.0335

    Resistance/Support
    R: 2.0345/2.0363/2.0396
    S: 2.0305/2.0282/2.0245
    Last edited by ngurah; 07-12-2007 at 08:14 AM. Reason: wrongtyping

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    July 18, 2007 GBP/$
    Resistance Level (High) 2.0552
    Support Level (Low) 2.0458

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