27 Aug 2007

I believe GBP/USD will continue to be bullish.

Looking at the news that is coming up - FOMC on the 28 Aug. The feb will adjust the interest rate low to give a push in the economy. But fundamentally, the reason for doing so imply a weaker economy.

Technically, GBPUSD, using a daily chart, WMA5 has just clear EMA55 and EMA21 is still showing signs of going north.

I will put the support line at 2.0130 and expect a U-turn north. On the break out I have place long at 2.0210