Update for: 2012-12-03 - 2012-12-09
Posted on: Sunday, 02 December 2012 11:44
Short-Term Trend: weak uptrend
GBP remains well bid but the upside potential is considered small here. I do not expect a significant move above 1.63 level. So, if one wants to trade against USD, I think a better opportunity can be found in EUR/USD market.
In the GBP/USD market the moves remain quite choppy and the volatility is rather subdued. So, while the daily chart looks mildly positive, i cannot justify a long position here.
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Strategy: Stand aside.
Next Update: Sun, 12/09/2012.
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