April 06, 2011

Trade Idea: GBP/USD – Buy at 1.6230

As the British pound has continued to move higher in part due to cross-buying, suggesting the rise from 1.5937 is still in progress and further gain to 1.6370/75 is likely, however, near term overbought condition should prevent sharp move beyond there and resistance at 1.6403 would hold and risk has

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