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Khamis, 16 Februari 2012

Analysis GBP/USD - 16feb12

GBP/USD intraday: the downside prevails
Analysis GBP/USD . ( 16/02/2012 10:08 )



Pivot: 1.571

Our preference: Short positions below 1.571 with targets @ 1.56 & 1.5575 in extension.

Alternative scenario: Above 1.571 look for further upside with 1.5735 & 1.577 as targets.

Comment: the pair is trading in a bearish channel.

Key levels

1.577
1.5735
1.571

1.5674 last

1.56
1.5575
1.555


TIPS

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Even with the same trading system 2 forex traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.

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