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Monday, July 9, 2007

GBPUSD :: Intraday



Last Price: 2.0113
Time Frame : H1
Time: Monday, July , 07, 2007

"The rise from 2.0057 sure look impulsive.
Favor to the upside, price will likely move towards the 2.0224 - 2.0271 area from 2.0057 and the support at 2.0057 remain intact."

Focus on exceeding 2.0141, this movement should bolster the wave 5 view for above 2.0206.

However, there are still reasonable count that drives price below 2.0057 and into the 2.007-1.9930 neighborhood in a corrective three wave fashion down from 2.0206. Trading under 2.0057 will be bolstered this bear view.

Trading idea :
Buy stop @ 2.0142
Sell stop @ 2.0056
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