Thursday, February 5, 2009

GBPUSD (1.4458)

GBPUSD is keeping its upward momentum going and it seems that it is looking for 1.4700 level. Some traders might look to buy it on dips and currently such buying opportunity looks around 1.4350 level.

If GBPUSD takes a dip below 1.4300, then market will become a bit tricky and most traders would like to hold back till the trend is settled to one side.
Recommended Trade Levels

Trade: Buy GBPUSD @ 1.4350
Stop: 1.4300
Profit Target 1: 1.4550
Profit Target 2: 1.4650

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