Short Term Analysis – Apr 9, 2008

20080409_gbpusd_1.gifGBPUSD Analysis.
GBPUSD drops sharply from 2.0049 and breaks below 1.9730. Down trend from 2.0391 has resumed. As long as 1.9865 resistance holds, we’d expect down trend to continue and deeper decline to retest 1.9337 (Jan 22 low) could be seen in the next several days.

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