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GBPUSD Daily Forecast: December 23

Premium Market Reports by FXTechStrategy

GBPUSD Daily Forecast: December 23
Wednesday, December 23rd, 2009 @ 1:57 am by Setyo Wibowo

About Setyo Wibowo:

Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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GBPUSD Forecast:
The GBPUSD continued its bearish momentum yesterday, break below psychological level 1.6000, bottomed at 1.5920 and closed at 1.5958. Like I said yesterday, break below 1.6000 area should lead us to further bearish scenario at least targeting 1.5800 this week as the pair is now enter a new phase of bearish scenario. Immediate resistance at 1.6000 – 1.6050 area. Break above that area should lead us into no trading zone but long position is not recommended.

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