Monday, May 9, 2011
Forex Trading Strategy #GBP - Cable searches for a 1.6325-1.6280 base.
Short term downside pressure continues for Cable but we suspect the market is searching for short term support in the 1.6280-1.6325 range for an interim upside correction back to the 1.6585-1.6600 range before the decline resumes in earnest. Only a direct loss of the 1.6270 medium term pivot point basis the Daily charts opens the chance for early downside acceleration. (Ref:
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