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gbp/usd possible long setup developing on 1 hr

11/19/2010

Anyone else looking at this potential GBP trade? The pair just broke a strong 4 hr. 50% ret. and a multi – day downtrend / possible bull flag. Possible fib extension to 1.623.

I’m not in this trade long, but looking for possible buy opportunities on a pullback. Want to see a little more solid break of this channel before a pullback though. So lets see how this develops. Bulls need to prove themselves and they haven’t yet.

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From → Trades

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