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The Daily Forecaster

DAILY ANALYSIS FOR GBPUSD

Rating: 1 votes, 5.00 average.
by , 11-04-2008 at 10:41 PM (631 Views)
[B]Bias: [/B] I suspect the 1.5841 low (max 1.5810) should hold for gains back above 1.6106 to 1.6154-98

Losses were seen as expected but stalled at 1.5599 causing a recovery. While the low seen wasn't where I expected it I still feel that we should see the upside develop today. It does seem more logical for this morning's low at 1.5841 should hold - however, allow for maximum 1.5810. From here a break above 1.5998 should provide the boost for additional gains. These should soon see yesterday's high at 1.6106 and while this may cause a temporary correction the targets should be at 1.6154 and 1.6198-15 which should cap.

For full analysis please open today's full report in PDF format.
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