Sive Morten
Special Consultant to the FPA
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GBP/USD Daily Update, Wed 08, September 2010
Hello everybody,
Yesterday, we've discussed the possibility of estimation of a new Lows on GBP, so, that has happened, but let's look wherer we are now...
Based on daily chart (see attachement), Fib. Confluence support and weekly pivot support 1 around 1.53-1.5350 had held the market. Today, there was an attempt of upper breakout of channel. But it has not happened yet.
Personally, I will be carefully watch for break out - because a lot of stops just above it.
If it will happen, then daily trend will turn bullish and I will be looking for opportunity to Buy the first AB-CD retracement to the downside. The possible target of this move in a case of upper break is about 1.5750
Hello everybody,
Yesterday, we've discussed the possibility of estimation of a new Lows on GBP, so, that has happened, but let's look wherer we are now...
Based on daily chart (see attachement), Fib. Confluence support and weekly pivot support 1 around 1.53-1.5350 had held the market. Today, there was an attempt of upper breakout of channel. But it has not happened yet.
Personally, I will be carefully watch for break out - because a lot of stops just above it.
If it will happen, then daily trend will turn bullish and I will be looking for opportunity to Buy the first AB-CD retracement to the downside. The possible target of this move in a case of upper break is about 1.5750