TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER - GBP/USD

Friday, February 06, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 105.68

Although yesterday`s anticipated rebound suggests moderate retracement of recent decline is
under way, reckon upside would be limited to 106.25/30, yield retreat later, below 105.22
support would signal recent downtrend has resumed again but 104.50 should hold on initial
testing...


INTRA-DAY GBP/USD OUTLOOK
(Update at 01:30GMT 2004/02/06)

As 1.8365 has capped recovery from 1.8320, suggesting yesterday`s fall from 1.8427 top has
resumed and weakness towards 1.8305 is envisaged, however, as outlook is consolidative,
reckon support at 1.8282 would hold from here and yield rebound later..

Hold short, stop as indicated and take profit on such decline...


Rate: 1.8340
Strategy / Entry Level: Hold short

Position: Short @ 1.8360
Objective: 1.8320

Stop-Loss: 1.8365

Range Forecast: 1.8325 / 1.8355
Resistance: 1.8376/1.8427/1.8461
Support: 1.8305/1.8282/1.8243



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