Tuesday, September 01, 2009

GBP/USD Daily & H4 Chart

GBP/USD Daily Chart

GBP/USD H4 Chart

Above is Cable daily and 4 hour chart with trendlines and fibonacci. The pair bounce from 23.6% retracement might find its top if the resistance trenline holds. I think I see a flag pattern in progress in 4 hour chart. I also draw the target projection around 38.2% retracement. This strengthen my GBP/JPY analysis also as I still look at the whole thing as downtrend.

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