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GBP/USD Disappointing Bullish Run

Posted by FXalhabib on August 12th, 2011

The GBP/USD has broken the 1.6440 minor resistance line and reached the 1.6474 high, it has been a disappointing bullish run. Since, reaching the 1.6474 high the currency pair has been on a strong downside slide and hit the 1.6110 low so far. Intraday bias remains on the upside, as long as the 1.6004 minor support line is not broken.

Wall Streets continues to hold its breath over whether or not our petty politicians will reach a debt agreement. The markets are not selling sharply as many would have assumed, mainly due to the overall belief an agreement will be reached.

BOJ Not Thrilled about Rising Yen

Posted by FXalhabib on July 25th, 2011

USD/JPY has continued its decline and reached the 78.04 this morning. The BOJ (Bank of Japan) have voiced their concerns about a strong Yen and its crippling effect on their exports. Intraday bias remains on the downside, as long as the 82.20 minor resistance line is not broken.

GBP/USD is trading with upside momentum, as the U.K service PMI shows greater growth than expected. Intraday bias remains on the downside, as long as the 1.6440 minor resistance line is not broken. On the upside, if the 1.6440 minor resistance line is broken it will reverse the bearish bias to bullish momentum and target the 1.6545 major resistance line.

Exploiting the power of trading Forex in the “when” zone is the best way of kicking out the speculative mindset. I’ve spent the the last three plus years, studying and tweaking this market for the ultimate Forex strategy. Knowing when a currency pair is going to take a swing or reversal, is the ultimate Forex trading method (period).

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