DAILY GBP/USD OUTLOOK

DAILY GBP/USD OUTLOOK

Cable's firmness after y'day's rise to 1.6122 intandem with euro suggests the correction fm last week's high of 1.6131 has ended at 1.6003 on Fri n upmove fm Nov's low at 1.5828 shud resume for a re-test of said res, abv wud extend to 1.6150/60.

Buy on dips with stop as indicated, break wud 'prolong' choppy trading but 1.6003 sup wud hold.

Resistance/Support
R: 1.6131/1.6176/1.6218
S: 1.6064/1.6043/1.6003

Last Update At
12 Dec 2012 07:46 GMT

Rate
1.6098

Strategy
Buy at 1.6080

Objective
1.6160

Stop-Loss
1.6040


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