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

Tuesday, February 10, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 105.85

Another day of sideways consolidation is in store and although cross selling in yen is likely to
lift price here, dollar`s broad-based weakness should limit upside to 106.80 and yield
resumption of medium term downtrend later this week for marginal weakness to
psychological support at 105.00...


INTRA-DAY GBP/USD OUTLOOK
(Update at 02:26GMT 2004/02/10)

As cable has maintained a firm undertone after rebounding fm 1.8552, suggesting recent
upmove has resumed n gain to y`day`s high 1.8630 is under way, then marginally twd 1.8650
but reckon 1.8670 wud hold initially due to loss of momentum.

Trade fm long side, stop as indicated n wud be prudent to take profit on such rise...


Rate: 1.8606
Strategy / Entry Level: Hold long
Position: Long at 1.8595
Objective: 1.8630
Stop-Loss: 1.8575
Range Forecast: 1.8600 / 1.8625
Resistance: 1.8630/1.8650/1.8696
Support: 1.8552/1.8520/1.8475



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