05-17-2010, 02:25 PM
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Superior Investor
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Join Date: Sep 2008
Posts: 11,435
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GBP/USD Mid-Day Outlook
GBP/USD recovers after dipping to as low as 1.4250 earlier today. Touching of 1.4494 minor resistance suggests that a temporary low is in place and turns bias. Some consolidations would be seen but upside should be limited by 4 hours 55 EMA (now at 1.4807) and bring fall resumption. Below 1.4250 will target 100% projection of 1.6456 to 1.4783 from 1.5521 at 1.3848 next.
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