FOREX MARKET OUTLOOK FROM ACETRADER - GBP/USD Oct 31, 03
Friday, October 31, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 108.75
Although yesterday`s anticipated rebound signals a temporary low has been formed earlier at
107.86 and moderate retracement of recent decline is under way, reckon overbought
condition would limit upside to 109.50/55, yield retreat later today or next week but said
support should hold initially...



INTRA-DAY GBP/USD OUTLOOK

(Update at 02:21GMT 2003/10/31)

Although cable has recovered from 1.6940, reckon upside would be limited to 1.6985/80 and
as long as resistance at 1.6999 holds, this week`s erratic fall from 1.7077 would extend
marginal weakness to 1.6920, however, oversold condition should keep price above 1.6872..


Hold short, stop initially at 1.7000, break would defer but 1.7040 should remain intact, yield
decline.

Rate: 1.6962
Strategy / Entry Level: Hold short
Position: Short at 1.6970
Objective: 1.6925/30
Stop-Loss: 1.7000
Range Forecast: 1.6940 / 1.6970
Resistance: 1.7010/1.7077/1.7100
Support: 1.6907/1.6872/1.6815




REALTIME INTRADAY forex trading signals and commentaries which are used by BANKS
through Reuters for MORE than 15 years are now available to individual users. Lead by world
renowned technical analyst Wilson Leung, our team of analysts monitors the FOREX market
24 HOURS A DAY. Please visit us at www.acetrader.com for more information



DISCLAIMER
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its
service or information contained therein. Trendsetter does not give, whatsoever, warranties,
expressed or implied, to the results to be obtained by using its services or information it
provided. Users are trading on their own risk and Trendsetter shall not be responsible under
any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no
event, be liable to users or any third parties for any consequential damages, however
arising, including but not limited to damages caused by negligence whether such damages
were foreseen or unforeseen.