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Technical Analysis for GBPUSD 8 Mar 2010 PDF Print E-mail
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Monday, 08 March 2010

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.

http://i233.photobucket.com/albums/ee189/ariestomaster/ImageProxy-2454.jpg

 
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