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

Friday, February 27, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN- 109.60

Despite yesterday`s anticipated resumption of recent upmove, overbought condition should
prevent further sharp gain beyond 110.50 and yield a much-needed retracement later today
but support at 108.04 should remain intact.


INTRA-DAY GBP/USD OUTLOOK
(Update at 02:08 GMT 2004/02/27)

Although cable has recovered from 1.8602, above minor resistance at 1.8664 is needed to
retain bullishnessn signal retracement of recent decline has taken place and bring further
gain towards 1.8690 later today.

Trade from long side, stop below said support, only below 1.8580/85 would abort and signal
yesterday`s decline has possibly resumed.


Rate: 1.8635

Strategy / Entry Level: Long at 1.8622

Position: Hold long
Objective: 1.8660

Stop-Loss: 1.8600

Range Forecast: 1.8750 / 1.8775
Resistance: 1.8819/1.8858/1.8948

Support: 1.8646/1.8627/1.8606



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