Wednesday, September 16, 2009

Cable Found Support, Wait For Breakout

Cable H4 Chart

Cable D1 Chart

Above are GBP/USD chart in daily and 4 hour time frame. The pair found support at 1.6427 target (see previous post), which is the 50% retracement of BC (purple dash Fibo). The trend is not clear although I still hope that the pair will at least reach the neckline. I plan to sell if it goes to the resistance are (risk area) or if the pair closed below 1.6427 in 4 hour chart. Have a nice day guys.

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