Wednesday, November 27, 2013

Trade Idea: GBP/USD - Buy at 1.6240

Although the British pound has rebounded after holding above the Kijun-Sen and retest of yesterday's high of 1.6331 cannot be ruled out, break there is needed to signal recent upmove has resumed and extend further gain to 1.6370-75 (61.8% projection of 1.5854-1.6240 measuring from 1.6133), however, near term overbought condition



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