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08.06.2012 05:33 PM
GBP/USD Around Trendline - For June 08/2012 (Daily Strategy)

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The British pound felt the impact of the words of Bernanke, the European crisis, and that splash of United States, Japan and the rest of Southeast Asia. This climate of uncertainty weakened the GBP/USD, which is now coming to the line of short-term uptrend.

In the 4 hour chart we notice that the price of GBP/USD is trading just above the uptrend line. The breakdown of this line will accelerate the fall to 1.5300 as the first objective.

On the other hand, if the pair closes above this level or above 1.5450 pivot weekly, we recommend buying with objectives to 1.5620, and above up to 1.58

The Momentum indicator is showing bearish signal.

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