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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
break and close above 6100 level would be first warning signal for GBP bears... could see quick jump to 6200/20 level once 6100 clears... and would signal resumption of uptrend to 6450/6500 level...
back below 5975 wuld mean failure to the upside and focus will shift back to 5850 then probably lower at 5750/80 level...
Right now the pair on daily chart has potentially a classical 3 wave ABC corrective with perfect textbook symmetry at the 5836 low. For me a move above the 6183 pivot high would likely lead to new highs. The eurusd pair has very unhelpful pattern from my perspective so I am currently more interested in the eurgbp. Let's see what guidance Ashraf has to offer us for an added fundamental bias :-) and gt to you chloe.
enjoy