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Forex Market Outlook on Majors

Fri, Dec 12 2008, 09:39 GMT
by AceTrader Team

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INTRA-DAY GBP/USD OUTLOOK:      1.4967

Updating time : 12 Dec 2008 09:35 GMT


Despite intra-day fall to 1.4854, current strg
rebound suggests 1st leg of correction fm 1.5133
has ended there n recovery to 1.4990/00 cannot be
ruled out, however, reckon upside wud be ltd to 1.
5040/50 n yield another decline.

Exit short n stand aside for now. Only below 1.
4920/30 wud revive bearishness for fall to 1.4880..

Range Forecast
1.4935 / 1.4985

Resistance/Support
R: 1.4979/1.5091/1.5133
S: 1.4854/1.4824/1.4774


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