Written by Bahagian Pentadbiran in
| GBP/USD Daily Forecast
Thu,April 21, 2011 | Dear Fellow Trader,
Setyo here with the latest daily forex update from the FX Instructor Forex Blog.
If you have any questions about today's update - please reply to this email and I will be happy to help. | | The GBPUSD continued its bullish momentum yesterday after broke above the bearish channel and hit 1.6446 earlier today in Asian session. The breakout above the bearish channel (which also can be seen as a bullish flag from another perspective) and the upper line of the range area gives us a bullish continuation scenario at least testing 1.6600 even 1.7000 in longer term outlook. The bias remains bullish in nearest term testing 1.6500. Immediate support at 1.6400. A clear break below that area would lead us to neutral zone in nearest term testing 1.6350 but overall I think the pressure remains strongly to the upside. Please click here to see how I applied my technical studies to this pair on the daily chart a few minutes ago. |
| I hope you enjoyed today's forex update! If you have any questions or suggestions, reply to this email - or visit me at the FX Instructor Blog. Happy Trading! | | | Analyst Profile Living in East Java, Indonesia and holding an International Relations degree, Setyo Wibowo began his forex trading career in 2000 as a market analyst, while learning to trade forex independently on his own. to learn more about Setyo Wibowo. |
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