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Monday, September 28, 2009
GBPUSD Analysis – Sep 29, 2009
GBPUSD remains in short term downtrend from 1.6467 and the rise from 1.5770 is more likely consolidation of downtrend. Further fall is still possible after consolidation and next target would be at 1.5600 zone. Initial resistance is now at 1.6050, as long as this level holds, downtrend will continue.
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Trading in the spot foreign exchange market involves a significant risk of loss and is not suitable for everyone. Clients should evaluate their financial condition in light of the potential risk of loss before deciding to trade. Only discretionary risk capital should be used for trading. Discretionary risk capital is capital that if lost will not cause a change in your lifestyle.
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