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GBPUSD (1.6134)

Mark Ryan Zeidus from Z2FX at 01/28/10


GBPUSD seems to be approaching the end of triangle it was trapped for some time now and we might see GBPUSD taking an extended move towards one direction.  What intra-day trader would like to do is to sell GBPUSD with small stops and hope that it take a good dip this time. Judging by the overall market trend the possibilities of GBPUSD taking dip is more likely than its taking an extended upward move.



Recommended Trade:


Sell GBPUSD @ 1.6230

Stop @ 1.6280

Profit 1 @ 1.6130

Profit 2 @ 1.6000

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