Welcome to the FXReturn.com London Forex Market Call for November 18th.,2010. GBP/USD: Trades above the 1.5900 handle for most of the session as the market finds support at the 50 day average which resides at 1.5856. A close below 1.5856 will encourage selling down to pivot support at 1.5649. A recovery of the 1.6100 handle will redefine the markets bullish posture with an upside objective of 1.6297. Technicals remain negative but are entering oversold conditions | GOLD: Closes on the lows of the session but manages to find support at the 50 day average which resides at 1332.0. A close below 1332.0 will spark a sell off down to pivot support at 1314.5. A recovery of 1350.0 needs to be achieved to redefine the markets bullish posture | 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
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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