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Market Trend (EU Pair n Cross)


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Market Trend (USD Pair n Cross))


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Trading Update By ForexCycle

Forex Market Movement

Tuesday, May 10, 2011

GBP/USD intraday: further advance. (pre US session)

Pivot: 1.6325
Our preference: Long positions above 1.6325 with targets @ 1.642 & 1.6465 in extension.
Alternative scenario: Below 1.6325 look for further downside with 1.6305 & 1.627 as targets.
Comment: the pair and its intraday RSI have broken above their declining trend lines.

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