FOREX MARKET OUTLOOK FROM ACETRADER - GBP/USD Oct 30, 03
Thursday, October 30, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 108.30
As 107.86 has contained recent decline, a day of consolidation is in store with initial upside
bias for moderate retracement towards 108.90/00, however, 109.35 should hold and yield
resumption of downtrend later...


INTRA-DAY GBP/USD OUTLOOK

(Update at 02:47GMT 2003/10/30)

Although cable hsa recovered after o/n retreat fm 1.7077 to 1.6974, reckon res 1.7020 wud
cap upside, yield marginal weakness twds 1.6960/65 b4 prospect of a strg rebound later
today..

Incline to buy on such dips, stop initially at 1.6940 n take profit on subsequent rebound as
1.7050/55 wud hold fm here...

Rate: 1.6992
Strategy / Entry Level: Buy at 1.6970
Position:

Objective: 1.7005/10
Stop-Loss: 1.6940
Range Forecast: 1.6970 / 1.7000
Resistance: 1.7077/1.7100/1.7120
Support: 1.6961/1.6907/1.6872


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