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Technical Analysis GBP

By:

Forex Ltd

2009-06-01

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The assumed test of key resistance range was confirmed but relative bullish activity rise displayed by OsMA trend indicator was not favorable for immediate realization of the pre-planned positions for sell. Further situation development with realization of the breakout buying variant did not have positive result in attainment of assumed targets but displayed general situation of bullish advantage preservation giving reasons for supporting this direction in trading operations planning for today. At the moment and considering relative bearish activity rise and rate position within indefiniteness range of Ichimoku cloud we assume the possibility of low boundary test of the mentioned indicator at 1.4520/40, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval. For short term buying positions on condition of formation of topping signals the targets will be 1.4580/1.4600, 1.4660/80, 1.4720/40 and/or further breakout variant up to 1.4790/1.4810, 1.4870/90, 1.4980/1.5000. An alternative for sells will be below 1.4450 with targets 1.4380/1.4400, 1.4320/40.

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