Tuesday, September 1, 2009

Currency Review (GBPUSD)

GBPUSD has settled in downward trend but looking into other currencies
like EURUSD, it can be seen that trading volume in crosses is much
more than normal volume.


On the lower side 1.6150 seems a strong support at the moment and we
have already seen couple of rise from that level. Break of 1.6150 will
see GBPUSD moving below 1.6000 level.


On the upper side 1.6450 is an important level. Break of that level
will confirm upward trend.

So we might see trading selling GBPUSD on rise during this week.

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