Friday, August 18, 2006

GBP/USD turned bearish

Hi everyone,

The GBP/USD has turned bearish. The day chart shows that the double top has been formed and therefore the price movement may break the 1.8830 support. The one-hour chart also shows the three moving average lines pointing downward indicating that the main trend is most likely to be bearish.

Get ready also to see bearish on EURO/USD soon.This suddenly changing trend will probably also bring bullish trend to USD/CHF and USD/JPY.I would expect today will not much movement until next week we can see the exact movement/trend.

Have a nice trading day

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