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Mood!

Friday, February 17, 2012

GBPUSD Cable revisited

CABLE WEEKLY CHART


Still in large triangle, tested the lower boundary and now rebounded.  Also breaking a down trend from 1.67 high in August 2011, so LONGER TERM could be ready to head to the upper boundary at approx 1.65







CABLE DAILY CHART


On the daily also looks like the bear case has weakened, and if we break 1.5930 to the upside 1.65 could be possible. Some more consolidation may be needed before this, but it looks like BUY on weakness..rather than SELL on strength.







4 HOUR CHART




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