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Forex Market Outlook on Majors

Fri, Aug 21 2009, 06:39 GMT

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INTRA-DAY GBP/USD:

Last Update At 21 Aug 2009 06:40 GMT

Rate : +1.6460+

As 1.6419 has contained intra-day cross-inspired
selloff, cable's rebound fm there suggests nr term
decline fm 1.6511 has possibly formed a low there n
consolidation with upside bias is seen for retrace.
twd 1.6497 but prev. res at 1.6525 shud limit gain.

Turn long on dips with stop below said sup as
break wud risk one more fall to 1.6390/00.

Range Forecast

1.6435 / 1.6465

Resistance/Support
R: 1.6497/1.6525/1.6570
S: 1.6419/1.6375/1.6328


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