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July 31, 2008 Leave a Comment
As of what I’m seeing today on July 31st the GBP/USD is beginning the move to go up further. As of today, July 31st, the GBP/USD may stay around the 1.9700-1.9800 level for 2 days or so, but will then begin moving further up to attack the latest high at 2.0155 over the next 7 days.
July 29, 2008 Leave a Comment
As you can read on my GBP/USD page, the GBP/USD moved as I forecasted on June 2nd, almost 2 months ago. On June 2nd, the pair was at 1.9653. I forecasted it might move down to 1.9474 before going further up. Sure enough, on June 13th, it moved down to 1.9411, and then proceeded to move to 2.0155, toward the 2.0400 level…almost 700 PIPs. I will provide further updates on this pair. This is my favorite foreign currency pair to trade. But right now, the gbp/usd is in a 1hr downtrend, which I believe, might end this longer-term uptrend. More to come soon.
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