GBP/USD Update 19/12/2007
From my point of view GU is going down for a long time.. The daily cs had broken down the trendline which had supported cable’s move upward.. take a look at the chart below..
eventho the daily stoch is OS it still can go down.. I expect tomorrow the price will retry the trendline that cable had broken before which will be around 2.0215 range.. the EMA 200 daily is also around this price too.. so I foresee a bit tougher resistance for cable to break. if the daily cs could break this resistance and close above this price then cable would resume it’s upward move.. but if tomorrow’s retesting of the resistance is unsuccessful then we are looking at 1.9472 as a possible tp for swingers…