Wednesday, May 16, 2012

GBPUSD Analysis

Current Market Outlook - Strongly Bearish

GBPUSD fell like a rock! Hope some of you managed to catch it. But no worries, there will always be re-entries if you know how to look for them.

In H4, we can see a sharp fall. With this sharp fall, there will certainly be a retracement. We look to trade the retracement.

As seen from D1 chart , 1.59984 appears to be a strong resistance in which price is likely to retrace to.

The earliest form of indication would be in H1.

Watch out! You don't want to miss another big move!

Stay objective.

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