Friday, November 27, 2009

GBP/USD And GBP/JPY Bounce From 50% Level



Cable has reached the target mentioned in previous post while GBP/JPY broke the TL and went further down to 140.93 support. I am expecting GBP/JPY retracement toward 143.74 and Cable ranging between 1.6292 and 1.6466. For the downside, break of current lows should target the next Fibonacci level which is 61.8%.

No comments:

Post a Comment