sterling in friday.was consolidating between 1.5417 and 1.55(psychological level).gbp closed around top of ichimoku cloud and await for monday.this week we'll see PMI's for U.K.these data will be really important for this pair because if we'll see bad news then market might reversal from 1.5440/50 area if good then price will be heading to 50% retracement 1.5595/1.5605 levels,please be carefully with this level because brakout it should take sterling up till 1.5770/80 area in next few trading day or even weeks.so for me good position sell limit 1.5540 sl 1.5550 1st tp 1.5500 2nd tp 1.5480...sell limit 1.5595 sl 1.5615 1st tp 1.5450 2nd tp 1.5410/12 area.breakthrought 1.5510 should get this pair to 61.8% retracement (1.5780/90 area).good luck

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Comment by Andrius on April 26, 2013 at 9:14pm

bad news better

Comment by gregorian on April 27, 2013 at 10:57pm

because many investors want to see gbp under 1,54 thats why you are saying like that.every trader got different opinion and one time he's got right another time he's wrong.we'll see who's got right this time.many pips i wish

Comment by Indy on April 27, 2013 at 11:42pm

Hi Waqar,

sure UK situation is not great, but where is good atm?

the question is, if you were an institution with $100million where would you rather have your money?

eur, usd, gbp or jpy?

maybe chf, aud or nok? 

how about Gold?

If gbp is going down something else has to go up.

Regards

Indy

Comment by gregorian on April 28, 2013 at 12:50pm

we should remember sterling is in uptrend channel on daily with the top on 1.5540/50 area.if will bounce the price might go to bottom of this channel soon,everything might happened

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