Tuesday, July 05, 2011

GBPUSD Analysis


There is a good chance that cable had completed another minor correction phase from its last impulse wave. First target is around 1.5864 which is the 100% projection of 1.6744 to 1.6058 from 1.6546. Longer term projection is around 1.5445 which is the 161.8% projection. As for risk assessment, a break above 1.6100 will change my view regarding this trend continuation.






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