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The Daily Forecaster

DAILY FORECAST FOR GBPUSD

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by , 11-02-2009 at 11:05 PM (625 Views)
[B]Bias:[/B] Mixed - waiting for breaks but overall I feel we shall see range
trading today

This has become really quite tight and the near term may well be confined to a 1.6328-1.6421 range. If we are to see any stronger rally then we'll need a break above 1.6453. If seen then I suspect we'll make our way up to 1.6494 and 1.6519 at least. Beyond here is a little uncertain. The next resistance I can see is at 1.6563. To allow for any stronger move then we have the
1.6603 high followed by 1.6630-74.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site along with a review of the new FX-forecaster Trader Package at €20pm.
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