Posted by: Babu Suresh | May 30, 2009

GBPJPY-30-05-09

GBPJPY M30–ChartsGBPJPY_M30-300509 (Click on the image to enlarge/zoom)

Hello Friends,

I am sure this weekend will be special for Pound lovers thanks to my beloved grating agency, S&P for their timely downgrading. Although USD did take more hit than expected, at the end of the day, how good did we do in our trading matters a lot.

My SOLIMO indicates, additional caution is advisable since Pound has been trading without adequate strength along with heavy intraday volatility. In case of a major correction, I will not be surprised to see huge downfall in Pound before any firm upward rally towards 160. I advice my fellow traders to strictly stick with day trading and avoid over night positions.

GBPJPY H1–ChartsGBPJPY_H1-300509 (Click on the image to enlarge/zoom)

 

My present supports and resistances – supports 153.25, 152.05, 151.10 & resistances 154.71, 155.65, 156.54

 

GBPJPY H4–ChartsGBPJPY_H4-300509 (Click on the image to enlarge/zoom)

 

 

Healthy And Wealthy Weekend

Healthy And Wealthy Trading

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