03/11/09 Forex Market Comments

GBP/USD: breakdown yesterday low by 34pips made a new 20 days low (L20). 11:00am formed a pin bar on hourly chart. Then 2:00pm breakout the head-and-shoulders pattern. The min target is 4020.



If yen could breakdown 96.57, we will have a 316pips head-and-shoulders pattern.

03/09/09 Forex Market Comments

GBP/USD: Last Friday formed downside pin bar, if market breakdown Friday low, we have a short swing setup. Around 4:15am, pound broke trend line and Friday low, the downside momentum is decisive. A very nice trending day for pound. Today is a WS7 day and made a new low in 20 trading days (L20).