Monday, September 27, 2010

27 Sep 2010

GBP/USD analysis:
Now that GBP had hit new high, attempted its fib retracement at 1.59. It may consolidate towards 1.60.

Of course, on the hind side, it may return to 1.572 as the support.

Likewise, Eur has made new high.

My expectation is for the market to consolidate lower, before attempt to hit 1.60.

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