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Intra-Day GBP/USD Outlook: March 13, 2012

Published 03/13/2012, 12:32 AM
Updated 01/01/2017, 02:20 AM
GBP/USD
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MAR
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INTRA-DAY GBP/USD OUTLOOK

   Although cable has rebounded after extending
decline fm Feb's high of 1.5993 to 1.5603 y'day n
minor consolidation wud be seen, as long as 1.5876/
80 holds, another retreat is still likely but be-
low said sup needed to extend to 1.5579/86.
   Sell on recovery with stop as indicated, break
wud risk stronger gain to 1.5698.

Range Forecast
1.5620 / 1.5660

Resistance/Support
R: 1.5698/1.5725/1.5751
S: 1.5603/1.5586/1.5531

Rate     
1.5658     

Position
Short at 1.5660

Strategy/Entry Level
Hold short

Objective     
1.5620     

Stop-Loss
1.5680

Last Update At
13 Mar 2012 04:04 GMT

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