Monday, December 03, 2012

$GBPUSD Outlook

Cable was moving sideways between 1.5960 and 1.6060  last week. The pair maintained its two week uptrend pattern but it needs to break above 1.6070 to confirm trend continuation. Break below 1.5900 should bring 1.5787 and 1.5665 in focus.

GBPUSD DAILY CHART - Waiting for a breakout.

GBPUSD 4-HOUR CHART - Targeting 1.6170  if 1.6050/70 resistance broken

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