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

Monday, February 16, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN- 105.48

Another day of sideways consolidation is in store and although dollar has traded above last
week`s low at 105.16, upside is expected to falter below 105.97 and bring retreat, however,
below 105.31 is needed to signal recent `erratic` decline has once again resumed, bring
weakness toward 105.00 later this week...


INTRA-DAY GBP/USD OUTLOOK
(Update at 02:58 GMT 2004/02/16)

As 1.8870/73 has capped cable`s recovery from Friday`s low at 1.8787, intra-day downside
bias is retained for early selloff from 1.8990 to bring weakness to 1.8765/70 but near
term `loss of momentum` should keep cable above 1.8735 and yield rebound later.

Sell recovery for 1.8790 and if price falls to 1.8775 first, buy for 1.8815 but 1.8870 would
hold...


Rate: 1.8830
Strategy / Entry Level: 1.Sell at market n 2.Buy @ 1.8775
Position:

Objective: 1)1.8790 n 2)1.8815 1st
Stop-Loss: 30 points
Range Forecast: 1.8810 / 1.8835
Resistance: 1.8880/1.8913/1.8952
Support: 1.8787/1.8735/1.8695



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