Thursday, June 28, 2007

GBP/USD - 15 MIN CHART
TRIANGLE FORMATION



Cables forming Triangle formation in 15 min Chart. Cables firmly trading slightly above the key psychological level of 2.0000. In the next few minutes we'll come to know where we will be heading towards, that will come to know only after breaking the Triangle pattern. My upper target is 2.0041 and the lower target is 1.9997 (44 pips difference). 2.0041 will act as major resistence and 1.9997 will act as the major support. The traders can take it as the stop loss for thier trades.