FOREX MARKET OUTLOOK FROM ACETRADER - GBP/USD Nov 4, 03
Tuesday, November 04, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 110.65
Dollar`s broad-based strength versus other major currencies signals a strong correction of
recent downtrend has taken place and further gain towards 111.80 is now envisaged,
however, reckon 112.35/39 would hold and yield retreat. Below 109.97 would defer but
108.85 should hold and yield another leg of corrective rise...



INTRA-DAY GBP/USD OUTLOOK

(Update at 03:30GMT 2003/11/04)

As 1.6670/75 has contained intra-day selloff, current price action suggests as long as this
level holds, consolidation with mild upside bias is seen in Asia for moderate recovery to
1.6740/45 but reckon 1.6765/70 would hold, yield decline later..


For short term trade, reinstate long on dips, stop as indicated, break risks 1.6635/40 before
rebound...


Rate: 1.6700
Strategy / Entry Level: Buy dips
Position:

Objective: 1.6740
Stop-Loss: 1.6670
Range Forecast: 1.6685 / 1.6715
Resistance: 1.6810/1.6872/1.6917
Support: 1.6638/1.6608/1.6535




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