Monday, June 21, 2010

GBPUSD#9 - Weekly Homework



I believe Red C2 retracement is not done yet, though last week it briefly touched a fb67 from the high of 1.4886.

In day chart, an antenna was formed. Chances of going down on Monday is high. Immediate target is EMA200 on 4H chart (1.4713), 1.4676 (fb67). J, K will build up after that.

However, if it opens and breaks above last week's high, the next target is around 1.5109, the first possibility of forming a Big Green L2.

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