Friday, October 30, 2009

GBPUSD gaining strength

Despite the weakening of other currencies, GBPUSD is holding itself
strong and gained today. If we look into daily and weekly charts, we
can see a series of resistances above 1.6600 levels, which will try to
hold GBPUSD below 1.6700 level.

It seems that GBPUSD might take a few small dips before gradually
breaking above 1.6700 level and once it manages to do that, then we
might see a quick rise by GBPUSD towards 1.7000 level. To capitalize
on this upward trend, buying GBPUSD for anything below 1.6500 seems
good option.

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