Update for: 2011-12-19 - 2011-12-25
Posted on: Saturday, 17 December 2011 22:45
Short-Term Trend: downtrend
GBP declined vs USD but not as much as we expected (that was due to the strength of GBP vs EUR). Right now the daily downtrend is still considered strong, however the recent price pattern tells me there is a risk for a larger move up back twd 1.5680 before the decline resumes with a bigger power. So, trying to enter short may be tricky in this market. But still, the main focus remains on the downside, so if a counter-trend rally develops, one may greet it as a good shorting opportunity. A decline below 1.5400 is needed to confirm our bearishness & to bring losses twd at least 1.5260....
Strategy: Stand aside.
Next Update: Mon, 12/26/2011. I wish everyone a Merry Christmas. Be inspired and inspire others to make changes in their life! Alexander
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