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Daily Technical Strategist - GBPUSD

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This is a daily technical analysis of different currency pairs which provides traders practical trade ideas to help them make smart trading decisions
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Content Preview
Thursday, 17th of Nov, 2011
FXTechstrategy Team

info@fxtechstrategy.com
DAILY TECHNICAL STRATEGIST
GBPUSD
GBPUSD: Sees Bearish Momentum, Further
Weakness Likely Towards The 1.5682/32
Levels.

GBPUSD
: With the pair breaking and holding
below its key support at the 1.5874/50 zone on
Tuesday and following through lower during
Wednesday trading, further downside risk is likely
in the days ahead. In such a case, the 1.5682
level, marking its Oct 20'2011 low will be targeted
with a violation of there turning attention to the
1.5632 level, its Oct 18'2011 low. Further down,
support lies at its Oct 12'2011 low at 1.5541. Its
daily RSI is bearish and pointing lower suggesting
further weakness. Alternatively, the risk to this
analysis will be a return above the 1.5874/50
zone. This will clear the way for a run its key
resistance located at the 1.6161 level, its Oct
31'2011 high where a breach will resume its short
term uptrend towards the 1.6204 level, its Sept
06'2011 and subsequently its Aug 30'2011 high at
1.6418. On the whole, GBP is now under pressure
with the risk of weakening further towards the
1.5682/32 levels.

To read the full version of this 7 model
currency analysis click here FXT Technical
Strategist Plus
1
www.FXTechstrate
gy.com
Providing Balanced Independent Research







This report is prepared solely for information and data purposes. Opinions, estimates and projections
contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to
change without notice. The information and opinions contained herein have been compiled or arrived
at from sources believed to be reliable but no representation or warranty, express or implied, is made
as to their accuracy or completeness and neither the information nor the forecast shall be taken as a
representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not
accept any liability whatsoever for any loss arising from any use of this report or its contents. This
report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies
referred to in this report. Click here for full disclaimer
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