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Technical Analysis Of Cable

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GBP/USD The week has started with more weakness in the USD

Wed, Jun 3 2009, 07:10 GMT

by Ian G Coleman

FXstreet.com Independent Analyst Team



The long term view is Bullish. Short term view. A break above 1.6685 would keep the Bull Run intact but we do have some divergence on the 1hr. This will only be confirmed if we turn here and first break the 20 SMA (currently at 1.6565) then the previous low at 1.6547. The bottom of the trend channel is at 1.6425

One week later...

EURGBP broke out of the descending triangle but didn't have a clear close below

Tue, Jun 9 2009, 09:01 GMT

by Ian G Coleman

FXstreet.com Independent Analyst Team


Long term – we are bearish. We want to see a clear close below 8572 Short term – everything points lower. Watch 8608 (trend line) for the next possible resistance. I think this will only be minor before the next break lower.


Maybe things just go up and down? <_<<_<<_<

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