News: 2012-02-24 14:54:13 UTC+00 2 months, 3 weeks, 6 days, 6 hours, 27 min. ago
GBP/USD Buy Above Trendline, February 24, 2012 (Daily Strategy)


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GBP/USD

The British pound - U. S. Dollar pair, carries two days to rising, after his fall to 1.5640 support, and now nearing its downtrend line short-term, two things can happen: That comes to touch their downtrend line, and back towards it north or break their trend line and be directed south until 1.6000, at a minimum.

We must be careful at this level as it could be highly volatile.

Therefore recommend you buy on a pullback of the pair, maybe in the 1.5680, or if the break is made - above the bearish trend line.

Our ultimate goal, it is placed around the second week resistance of  1.5994 dollars per pound.

The Range and Momentum indicator. show bullish signals.

 

Gerardo Porras Palomino is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

Performed by
Analytical expert: Gerardo Porras Palomino
InstaForex Companies Group © 2007-2012
 Published: 2012-02-24 14:54:13 UTC+00 2 months, 3 weeks, 6 days, 6 hours, 27 min. ago

 
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