Friday, October 31, 2014

Trade Idea Wrap-up: GBP/USD - Buy at 1.5900

Although cable has remained under pressure and near term downside risk remains for the fall from 1.6184 to extend weakness to 1.5920-22 (50% projection of 1.6183-1.5951 measuring from 1.6039), loss of downward momentum should prevent sharp fall below 1.5895-00 (61.8% projection) and bring rebound later. Above 1.6010-15 would bring recovery



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