Monday, December 18, 2006

Momentum in favor of the GBP

Notice that momentum has been towards the downside of the Cable and that the trend strength is picking up. Today would be a good day to go short but my chart shows that price is resting on support right now. My gut tells me that the pair will still fall, but I want to wait for confirmation. If the momentum continues and the pair breaks its support, I may enter short tomorrow.

Status: Waiting to attack

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