GBPUSD Daily view 24 Jan 2010

First post would be about Lady cable/ $gbpUSD.

Cable on daily chart show on uprising channel ( Click to see larger Image).

Key levels 1.62 / 1.64. Breach of current channel would resume more downside.

Would enter short below 1.60 for 1.59 but as long this channel survice I remain bullish on cable with target above 1.70. May be I should ask some Elloit specialist for Wave count that seem intersting here ( I'm still a rockie in EW and will wait before showing any count ;-) ).

On Hourly we had some consolidation in Friday afternoon session and don't look good, Risk Aversion and the last bad news and SOME weak numbers are not helping.

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