Thursday, March 08, 2007

GBP/USD
A SUPPORTING TRENDLINE INTACT...


Cablesis trading very firm thru its stronger supporting trend line which is connected from the recent low of 1.9283 ever since making a low of 1.9283 the Cable moving slowly and resisting at 1.9362 which is 38.2% fibo resistence of the fall from 1.9654 to 1.9283. Once the 1.9362 s taken out then it'll find the resistence at 1.9474 whichis the 61.8% fibo resistence of 1.965 to 1.9283. All Cable trader will wait for the out coming of BoE Interest rate meetn which is out to come at 0700EST (1200gmt).