Thursday, July 14, 2011

Transaction (FX)

Hi all, the cable has shown some weakness this morning and I expect the market to turn down from here to temp support 1.60000-1.6050.

from smaller time frame (30 minutes) we saw a weakness formation and struggle.

Intraday trade: I queue to short at 1.6160, SL 1.6192 (-35 pips), Target 1.6052 (+105 pips).
If market successfully break below 1.6050, next target 1.5980.

If market triggered my stop loss, which means breaking yesterday high, GBP/USD is going to 1.6300 region.

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