Friday, November 1, 2013

Trade Idea: GBP/USD - Sell at 1.6110

Cable's near term sideways trading is expected to continue and although a corrective bounce towards 1.6098 (38.2% Fibonacci retracement of 1.6258-1.5999) cannot be ruled out, reckon previous support at 1.6119 would limit and bring another decline later. A break of said support at 1.5999 would extend the decline from 1.6258



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