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

Wednesday, February 25, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN- 108.20

Yesterday`s fall from 108.75 suggests consolidation with mild downside bias is seen for
decline from Monday`s high at 109.40 to bring retracement of recent rally, however, reckon
107.15 would contain weakness due to oversold condition and yield rebound later.



INTRA-DAY GBP/USD OUTLOOK
(Update at 02:07 GMT 2004/02/25)

As cable has traded narrowly below yesterday`s high at 1.8939, further range trading is seen
in Asia before recent upmove resumes for marginal gain toward 1.8970/75 but loss of nr
term momentum would cap price at 1.9000 and yield retreat later.

Trade from long side, stop as indicated, below would risk retracement to 1.8840/45 before
rebound.


Rate: 1.8916
Strategy / Entry Level: Hold long
Position: Long at 1.8895
Objective: 1.8930
Stop-Loss: 1.8865
Range Forecast: 1.8875/1.8905
Resistance: 1.8939/1.9000/1.9085
Support: 1.8840/1.8775/1.8706



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