All major currencies are not clearly breaking into any direction at the moment. Therefore only trades with small targets are seen.
GBPUSD took a dip below 1.4200 level and we might see it taking out 1.4100 level but before that it might take some retracement towards 1.4400 level and selling around that level seems a good trade. If GBPUSD manages to break 1.4100 level, then we should expect sharp selling from GBPUSD.
Recommended Trade Levels
Trade: Sell GBPUSD @ 1.4390
Stop: 1.4440
Profit Target 1: 1.4290
Profit Target 2: 1.4190
Thursday, February 26, 2009
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