The Trend of the Day - GBP/USD

Published June 3rd, 2009 - 05:03 GMT
Al Bawaba
Al Bawaba

Trend may take a break at this point as it appears over-extended.




Trend may take a break at this point as it appears over-extended. However, it is risky to trade against such a strong daily trend. Look to buy any pullbacks to the daily trend line in the area of 1.5466 to 1.5800 for a push to the October 20, 2008 highs in the vicinity of the 1.7471 area.