** Asia Open: Daily GBP Trade / Wed. Sep. 20, 2006 **

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PDF version 19 Sep 2006, 16:59 GMT by GCM Reach

Home : Forex Forecasts : ** Asia Open: Daily GBP Trade / Wed. Sep. 20, 2006 **

** Asia Open: Daily GBP Trade / Wed. Sep. 20, 2006 **

FOREX FORECAST & ANALYSIS

Daily Report

By J. Enrique Tolentino S.

http://www.gcmreach.com

Asia Session Open: Tactical Strategy for Wednesday September 20th, 2006: GBP/USD

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Medium Term Trend: Cable technical picture is cloudy due to a false upward break. Now need to stay below 1.9090/9130 to reach 1.8530/8395-10 support.

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Asian Session Expected Movement: ↓

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Today's Trade Analysis: Cable didn�t react as wild as other european currencies but did fall strongly from highs. Seems trapped in a triangle formation to 1.8755

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Supports: 1.8775/1.8740/1.8705 Resistances: 1.8830/1.8855/1.8880

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Plan: Selll HSL @ 1.8830, stop above 1.8880, 4 downmove continuation toward 1.8755
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