Wednesday, September 29, 2010

29 Sep 2010

GBPUSD Analysis:
As at this morning, a big squeeze appears on the 15min chart.

Both directions are possible for a break out. Looking at the 1 hour chart, a break up is at 1.582/3 target to reach short term resistance at 1.585, then 1.5900.

The other is for GBP to break downwards at 1.578, towards 1.575/74 region. Short term support at 1.567/68 region.

The issue of debt seems to be coming back, together with "economy going for a second recession".

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