Thursday, May 1, 2014

Trade Idea Update: GBP/USD - Buy at 1.6860

As the British pound has risen again after brief pullback, adding credence to our bullish view for medium term upmove to extend further gain to 1.6940-50 (61.8% projection of 1.6555-1.6842 measuring from 1.6763), however, loss of near term upward momentum should prevent sharp move beyond 1.6970-75 and price should falter



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