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

Thursday, March 11, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 111.98

Despite yesterday`s stronger than expected retreat from 111.56, early strong rebound from
110.20 indicates pullback from 112.34 has ended there and consolidation would upside bias is
still remains.

Only below 110.20 support would signal a retracement of entire corrective rise from 105.16
is under way.


INTRA-DAY GBP/USD OUTLOOK
(Text Written At 2004/03/11 02:26)
Cable has remained under pressure in Asia, suggesting early decline has possibly resumed
and re-test of 1.7962 support is envisaged, below would extend marginally, however,
oversold condition would limit downside to 1.7895/00, yield rebound later.

Sell recovery with stop as indicated and take profit on subsequent fall.


Rate: 1.7988

Strategy / Entry Level: Sell at 1.8000
Position:

Objective: 1.7965

Stop-Loss: 1.8030
Range Forecast: 1.7980 / 1.8010
Resistance: 1.8081/1.8100/1.8156

Support: 1.7962/1.7920/1.7825



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