Setups to Watch This Week 6/13/11

Greetings. There are some setups worth watching in the coming days, such as the following: GBPUSD: recent sell-offs are suggesting that more pressure on the trendline around 1.6150 is likely, and current lower-highs formation is intact – therefore keep an eye on the highlighted resistance zone if current recovery continues. I think it's worth looking for selling opportunities around 1.6400 if the recovery extends higher and such candlesticks are exactly what to wait for. Selling on the break lower is also a decent plan, at least in theory. GBPUSD daily chart 6-13-2011 EURGBP: current sell-off is quite strong, as seen in the daily Read More

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