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GBPUSD – Rangebound

The GBPUSD is trading in a very well defined ST range:

GBPUSD

GBPUSD

In this case, both short and long opportunities are in play in the GBPUSD on either extreme, but once the market breaks the range, I will only look for opportunities in the direction of the breakout.

But as long as the GBPUSD keeps trading in the zone, just play the range.

Trade Safe!

Raul Lopez
http://www.straightforex.com/

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This entry was posted on Thursday, July 8th, 2010 at 4:19 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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