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

Friday, February 13, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN- 105.33

As dollar has remained sidelined after early brief fall to 105.16, suggesting further
consolidation would be seen today, however, 105.95/00 should cap upside and yield
resumption of recent downtrend, however, loss of momentum would prevent selloff below
psychological sup at 105.00 today and yield correction later.


INTRA-DAY GBP/USD OUTLOOK
(Update at 13:12 GMT 2004/02/12)

Current price action suggests as long as 1.8925 holds, consolidation with downside risk
remains and pullback towards 1.8895/00 cannot be ruled out before prospect of a resumption
of recent upmove.

In view of this downside risk, suggest to exit long and buy again at 1.8900, stop as indicated.
Above 1.8925 would bring re-test of 1.8952, then 1.8970/75.


Rate: 1.8900

Strategy / Entry Level: Long at 1.8900
Position: Hold long
Objective: 1.8930
Stop-Loss: 1.8875
Range Forecast: 1.8880 / 1.8910
Resistance: 1.8952/1.8976/1.9000
Support: 1.8894/1.8856/1.8810



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