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GBP/USD – for today 29-08-2013: Under pressure

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GBP/USD – for today 29-08-2013: Under pressure

Postby johnsmith00710 » Wed Aug 28, 2013 7:06 pm

The pound did behave the same as the Euro, it first went down to reverse and end up slightly below the starting point. There is a weakness showing in the dollar and we have to be cautious here. Even though everything tells us there is a bearish movement ahead, I do not trust the picture.

IMPORTANT LEVELS CHART
1.5635 gbp 280813
1.5605
1.5555
1.5516*
1.5535
1.5515
1.5375
* = last price
Pivot-Point: 1.5555
Our Preference: Short positions @ 1.5535 with 1.5475 & 1.5415 in sight.
Alternative Scenario: The upside breakout of 1.5555 will open the way to 1.5605 & 1.5635.
Technical Commentary: The pair stands below its resistance and remains under pressure..
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johnsmith00710
 
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Joined: Thu Jun 27, 2013 6:40 am

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