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|FXReturn.com|London Forex Market Call 11-08-10|

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FXReturn.com
, 11-07-2010 at 08:43 PM (1206 Views)
Welcome to the FXReturn.com London Forex Market Call for November 8th.,2010. GBP/USD: Closes down 72 points and on the lows of the session as the market fails to trade through Thursday's high at 1.6297. A close above 1.6300 this week will spark a rally into the 161.8% Fibonacci Forecast level which resides at 1.6430. Near term support is at 1.6039. Funds increased their net long position by 9,202 contracts which supports further price appreciation in the GBP/USD | GOLD: Closes on the highs of the session to make another all time high and challenges the $1400.00 level. A close above $1400.00 will spark a rally into the $1425.00 region. Near term support resides at $1361.70. Funds decreased their long position by 5,431 contracts but are still net long 256,538 contracts. Technicals remain positive | DailyFX Forum visitors can sign up for our FREE Live Interactive Webinars and Live Trading Room at FXReturn.com as well as review our latest TON: Trade On News Plans for the upcoming week.Please click the following link to view our daily research: LondonMarketCallCreated with Camtasia Studio 5
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