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GBPCHF – Still in a bearish market condition

Last week I wrote about the GBPCHF, back then it was in a bearish market condition, and it still is in a bearish market condition. Even when the GBPCHF has done nothing but range, we are still looking for short opportunities:

GBPCHF

GBPCHF

So, if we get a significant pattern with downward pressure at the upper short term resistance level, I will definitely take my short.

I have my next LT resistance level in the GBPCHF is around 1.5906

Trade Safe!

Raul Lopez

http://www.straightforex.com/

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This entry was posted on Wednesday, August 18th, 2010 at 4:08 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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