Wednesday, April 15, 2009

Daily Outlook for GBPUSD


Attached is the chart for GU. As pointed out yesterday, GU managed to break through strong resistance at 1.5015. The price has now moved up to 1.5050 and there is a tired looking feeling about it. There is another resistance at 1.5076 and a major resistance at 1.5157. I really doubt whether the price would be able to cross both these levels.

Support would come in at 1.5015 ( a very strong support) and then a 1.4954

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