Forex Market Outlook on Majors

Forex Market Outlook on Majors

Fri, May 9 2008, 06:45 GMT
by AceTrader Team

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INTRA-DAY GBP/USD OUTLOOK:               1.9522

Updating time :09 May 2008 06:53 GMT


Despite intra-day recovery fm 1.9495, as long as
1.9545/55, nr term downside bias remains for recent
decline to extend to 1.9470/80 but loss of momentum
shud limit weakness to 1.9450 n yield a rebound
later today.

Sell again on recovery for st trade, stop as in-
dicated n only abv 1.9570 signals low is in place..

Range Forecast
1.9505 / 1.9535

Resistance/Support
R: 1.9570/1.9623/1.9681
S: 1.9495/1.9456/1.9409
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Published on  Fri, May 9 2008, 07:13 GMT

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