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Intra-Day GBP/USD Outlook: March 12, 2012

Published 03/12/2012, 02:13 AM
Updated 01/01/2017, 02:20 AM
GBP/USD
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MAR
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INTRA-DAY GBP/USD OUTLOOK

   Cable's weakness after early breach of Fri's
low of 1.5662 suggests downside bias remains for
decline fm Feb's high of 1.5993 to extend twds 1.56
44/48 sup area, however, nr term loss of momentum
wud limit downside to 1.5614 n yield rebound.
   Sell cable on pullback twd 1.5698 with stop as
indicated, break wud defer but 1.5751 shud hold.

Range Forecast
1.5658 / 1.5695

Resistance/Support
R: 1.5698/1.5725/1.5751
S: 1.5644/1.5614/1.5573

Rate     
1.5660     

Strategy/Entry Level
Sell at 1.5690

Objective     
1.5650     

Stop-Loss
1.5710
    
Last Update At
12 Mar 2012 06:02 GMT

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