Monday, April 28, 2014

Trade Idea: GBP/USD - Buy at 1.6810 or on break of 1.6850

Current rally on Pfizer news signals recent upmove has resumed and retest of 1.6842 (this month's high) would be seen, however, break of 1.6850 is needed to retain bullishness and extend recent upmove to 1.6870-80, then 1.6900-10 (50% projection of 1.6555-1.6842 measuring from 1.6763) and later towards 1.6940-50 (61.8% projection)



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