Posted by: Babu Suresh | November 22, 2009

GBPUSD-221109

Hello Friends,

GBPUSD-221109I am sure after a hectic week, all of you would be relaxing and preparing for another high action week ahead.

The week gave good trading opportunities for both long bulls and short bulls equal chances to play around. As expected in my last analysis, the rise above 1.68 was with less strength than one would have expected.

GBPUSD-1-221109Coming week, I expect Pound to trade between 1.63 and 1.67. Although chances look not that bright for 1.63, I would advise caution on the short side, as some of the forthcoming data would have high influence to push Pound higher from any low she tests.

I would adopt a dual trading strategy, keeping watch on both GBPUSD as well as EURGBP, to capitalize on the moves.

My probable Supports: 1.6465, 1.6395, 1.6298; Resistances: 1.6568, 1.6670, 1.6757

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

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