Posted by: Babu Suresh | October 25, 2009

GBPUSD-251009

Hello friends,

Hope all of you are enjoying the weekend after having spent a dazzling trading week with the Pound.

GBPUSD-251009While the traders would be leading their life in their usual way, the great economists would be busy debating why, how and what, when their so called forecasts, theories and researches have long ago become a laughing stock and insignificant; only they are yet to realize that. Hope they would at least now start thinking pragmatically and start reworking their theories and researches and stop taking part in the so called researches conducted by Bloomberg, CNBC and etc. for every data that is released on a daily basis and stop giving their pathetic opinions and advises. Instead, I would rather advise them to go out and start working with the farmers and factory workers, who sweat, shed their blood and sacrifice a lot to earn every penny to better understand the true and real meaning of economy and economics instead of wasting time doing useless researches and appearing in all the idiot boxes to give their worthless and irresponsible opinions and advises and at the end of the show feel proud they have done a great job.

GBPUSD-1-251009In continuation to my last post made on 22nd Oct. 09, Pound while rising close to 1.67 without much strength, upon satisfying the GDP data of UK released on Friday the 23rd Oct. 09 did not show any improvement, gave up almost 3 days gains in one shot. Although the fall was quite steep, she has chances to take 1.62 support and make a temporary come back.

My Probable Supports:1.6238, 1.6188, 1.6045; Resistances: 1.6378, 1.6449, 1.6519

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

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