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Possible short entry on GBP/USD

Posted on 28. Apr, 2009 by in Forex Signals

The GBP/USD pair is currently trading at 1.4540 and as you can see from the picture below, it is currently trading within a Symmetrical triangle. We have a support just around 1.4511, and a break of this, will probably take it down to the bottom of the triangle. A break of the triangle either up or down, should give us some momentum in either direction. I am currently bearish on this pair, and I think we can see a break to the downside today. However, we have upcoming news, which probably will give us a very volatile market throughout the day. I am currently short from 1.4535. Let’s see how things play out.

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Related posts:

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  2. Possible entry on GBP/JPY
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  4. EUR/USD – Currently Short
  5. Update on yesterday’s trade and new entry

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