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Choppy GBPUSD This Morning
By Benny Nardino | May 23, 2006
The morning market has been very indicisive. The 
Cable has been vaccilating between the 50 and 61.8% range (8835~8870 respectively) of May 17th Hi @1.9025 and yesteday’s Lo of 1.8632 . It has been fairly difficult picking a decent position though. In the last hour or two there seem to be a directional bias southward breaking the EMA9 on the chart. I have taken a very small position on the downside @8842 with the hope to load the barrel @ 8800 mark. I still very much an outsider with fingers crossed.
Cable has been vaccilating between the 50 and 61.8% range (8835~8870 respectively) of May 17th Hi @1.9025 and yesteday’s Lo of 1.8632 . It has been fairly difficult picking a decent position though. In the last hour or two there seem to be a directional bias southward breaking the EMA9 on the chart. I have taken a very small position on the downside @8842 with the hope to load the barrel @ 8800 mark. I still very much an outsider with fingers crossed.
Whilst I was waiting for some action in the EUR/USD and Cable instruments to set, I managed to pick up a few pips from the GBP/JPY. Nothing significant, 32 pips. 209.52 ~ 209.84.
I wish you every success in your trades today.
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One Response to “Choppy GBPUSD This Morning”
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October 9th, 2006 at 8:02
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