GBPUSD - Daily technical Outlook (10:58 CET)

05 November 2009 @ 08:33 am EDT

The parity is testing the support line of its long term bullish channel (acting as resistance). This level match with the resistance at 0.90. So, we will advise to trade only short positions as far as the price is below 0.90. A break out of this level will offer a buy signal. But we will then advise to stay flat on the parity because the parity is evolving in a short term bearish channel.

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