Friday, June 5, 2009

GBP/USD Trade Update for 290509

US fundamental news with the majority of better results has unfazed the ascend of the GBP/USD price. The price is healthily maintaining its upward momentum with no significant signs of faltering this week. Nonetheless, there is the possibility of the price reaching the channel resistance on the H4 chart and doing a re-trace at least within the channel but that could take a few more days into next week to play out. This week has been a healthy ascending for the GBP, taking advantage of the inactivity of the USD during the American public holiday. Overall; on day to day terms, the current consensus is a full 3/3 GBP bias.

Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.

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