3/20/10

GBPUSD looking to continue momentum

GBPUSD (1.5017)

GBPUSD took a good dip to close last week and it seems that it might continue its momentum during next week. What traders will look to get it on rise to have its retracement towards 1.5125 level and around that level we might see GBPUSD resuming its downwards trend. The 1.5125 level seems a good level not only in daily but also in weekly charts and selling around that level will be a good entry. If GBPUSD manages to keep the current momentum, it will be heading towards 1.4800 level.

TRADE:

Sell GBPUSD @ 1.5125 for Profit Level @ 1.4850 with Stop @ 1.5200


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