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GBPUSD Daily Forecast: February 08

Share It:: 02/07/2010 07:37

GBPUSD Forecast:
The GBPUSD continued its bearish momentum on Friday, break below 1.5707, bottomed at 1.5557 but closed a little bit higher at 1.5629. This fact should trigger further bearish scenario in long term targeting 1.5250 area but the nearest bias is neutral. CCI in oversold area and heading up on h4 chart suggesting potential upside correction testing 1.5650 � 1.5707 area. Break above 1.5707� should trigger further bullish momentum towards 1.5800. Immediate support at 1.5550 � 1.5500 area. Break below that area should trigger further bearish scenario towards 1.5250 area this week.

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History

02/07/2010	USDJPY Daily Forecast: February 08
02/07/2010	USDCHF Daily Forecast: February 08
02/06/2010	EUR/USD Weekly Review 01 Feb 10 – 05 Feb 10
02/05/2010	EURUSD Weekly Summary: Euro remains under pressure, Hammer candlestick might give technical support next week
02/05/2010	EUR/USD Daily Review 05 Feb 10

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