Trading Blog - DanielDailyFX.com by Daniel Sim

Trade Without Indicators: GBP Forecast 24th Nov

Posted on 22. Nov, 2009 by Daniel in Daily Forex Signal Forecast

Last week pound ended whole week bearishly. Daily average pips movement for cable is about 100+ pips. Will pound continue to be weak against US dollars this coming week?

The range of GBP/USD :1.6405 - 1.6668

Tomorrow morning, if pound open within the range I am more bias to Short but provided it also trade below opening price.

I will only consider to go Long if pound trade above 1.6668 the resistance of downtrend channel.

P.S My style of trading is always Clean and Sleek.

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