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Technical Analysis for GBPUSD 8 Mar 2010 |
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Written by Administrator
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Monday, 08 March 2010 |
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The GBPUSD had a bullish momentum on Friday. As you can see on my
daily chart below price bounce back to the upside after touched the
major trendline support, indicating potential upside correction
scenario but the main trend should remain bearish. The bias is neutral
in nearest term. Immediate support at 1.5100. Break below that area
should trigger further bearish momentum testing 1.5000. Initial
resistance at 1.5250. Break above that area should trigger further
upside momentum testing 1.5380 area.
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