Daily Technical Stategist GBPUSD 17 11 11

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Slide 1:

1 Thursday, 17th of Nov, 2011 DAILY TECHNICAL STRATEGIST GBPUSD GBPUSD: Sees Bearish Momentum, Further Weakness Likely Towards The 1.5682/32 Levels. GBPUSD : With the pair breaking and holding below its key support at the 1.5874/50 zone on Tuesday and following through lower during Wednesday trading, further downside risk is likely in the days ahead. In such a case, the 1.5682 level, marking its Oct 20’2011 low will be targeted with a violation of there turning attention to the 1.5632 level, its Oct 18’2011 low. Further down, support lies at its Oct 12’2011 low at 1.5541. Its daily RSI is bearish and pointing lower suggesting further weakness. Alternatively, the risk to this analysis will be a return above the 1.5874/50 zone. This will clear the way for a run its key resistance located at the 1.6161 level, its Oct 31’2011 high where a breach will resume its short term uptrend towards the 1.6204 level, its Sept 06’2011 and subsequently its Aug 30’2011 high at 1.6418. On the whole, GBP is now under pressure with the risk of weakening further towards the 1.5682/32 levels. To read the full version of this 7 model currency analysis click here FXT Technical Strategist Plus FXTechstrategy Team info@fxtechstrategy.com www.FXTechstrategy.com Providing Balanced Independent Research

Slide 2:

2 This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer

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