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Old 06-26-2008, 11:07 AM   #1

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GBP/USD Trendline Breakout

GBP/USD has broken the major downtrendline and rallied to the 50% level of the recent downmove. RSI remains bullish. The next major 50% retracement level is at 202.61.



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Old 07-04-2008, 11:05 PM   #2

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Re: GBP/USD Trendline Breakout

hi dannybly

what happen to gbp ? it touched 2.0006 then dropped to current level 1.9823. Daily candle was pretty long on thursday. Any idea ? thanks a million. be bless always
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Old 07-05-2008, 06:56 PM   #3

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Re: GBP/USD Trendline Breakout

I'm bearish the GBP.

On the weekly its trading in a channel between 1.9945 and 1.9433

1.9777 is potential support - if that doesn't hold, then no more potential support til around 1.9558.

Fundamentals may play a part in this. If the BOE raise rates (and they were close last time they met) then GBP may rise. They are meeting on 9/10th July
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Old 07-06-2008, 10:13 AM   #4

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Re: GBP/USD Trendline Breakout

Thanks for sharing aidaweb01.

Pray you are bless with abundance of love, health and wealth. and being guided always for the truth in everything you are doing
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