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Posts by "pricetrader"

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PriceTrader
(Malaysia)
   
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PriceTrader
Malaysia
Posts: 1
14 years ago
Sep 11, 2010 6:17
In Thread: GBP
The Cable is ranging very nicely for the last two weeks between 1.5580 and 1.5325. If the support is taken out at 1.5325 and the 1.5300 is breached constructively, the bears will be getting in to drive the price lower and challenge the next support level at 1.5140 (17/07/2010) where the bulls make the run up to a intraday high of 1.5998 (06/08/2010).

From the price action on both the 1hr and 4hr, we can observed that the bears are gaining momentum to drive the price lower. The bulls seems to be rin hibernation. There will be s slew of economic report coming from UK next week.

My bias is to the downside in the coming week and will be looking for short opportunity and see the price going towards 1.5140/50

We will see how it plays out. Happy Trading and Hunting.

Trade well and follow the trend, not the so-called experts.
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