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

Monday, February 09, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com

USD/YEN - 105.71

Atlhough dollar has fallen again after brief recovery to 106.80 on Friday, psychological
support at 105.00 is likely to contain weakness, yield further sideways consolidation but said
resistance should hold and bring resumption of medium term downtrend later this week...


INTRA-DAY GBP/USD OUTLOOK
(Update at 02:11GMT 2004/02/09)

As cable has remained firm after rebounding from 1.8400, suggesting recent upmove has
resumed for gain to pivotal resistance 1.8525, however, above is needed to signal an upside
break of medium term consolidation has occured and bring re-test of 1.8580 top later.

Hold long, stop as indicated, break would defer but said support should remain intact...


Rate: 1.8488
Strategy / Entry Level: Hold long

Position: Long at 1.8485
Objective: 1.8520

Stop-Loss: 1.8455

Range Forecast: 1.8480 / 1.8510
Resistance: 1.8525/1.8580/1.8650
Support: 1.8445/1.8400/1.8370



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