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The GBPUSD closed very high level, despite the bad news about the UK economy

(Last Updated On: April 30, 2012)

The GBPUSD closed very high level, despite the bad news about the UK economy. Next week we can see a sharp reversal around 400pips or will be surprising if continue advance.

 

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Realistically domestic fundamentals aren’t the huge driver that they once were. Since the onset of the GFC the markets have become very highly correlated. To with the U.S equity markets have spoken over the last week. They want to go higher (bullish engulfing weeks in S&P500 and Nasdaq) thus the USD will be down. The GBP/USD has attained what I like to refer to as ‘trending status’ . In my experience that implies higher still with the occasional pullback that might be quite sharp but will be brief by time.

 

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!

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