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Wednesday 20 May 2009

That's EXACTLY what I meant just about 5 hours ago! :)
As I have no explanation for this move I've closed all my demo position now. Price have some chance to appreciate more, but in other hand there is plenty of room to shadow this at least partially fake move [this also refer to what I said yesterday about timing].
There is interesting point @ 1.5545 - it's a last swing high before this sweet run up. I have set buy limit there on my demo account as price may bounce for about 50-70 pips from there [it's not a trading advice, whatever you do, you are responsible for it :)]

Finally it's time to change my judges. I shouldn't marry with my opinion about GBPUSD which I was watching closely recently.

I was waiting for price to retrace, as the pair was moving high for too long and too fast to keep up with such a dynamics.

There is still possibility of move back, however this pair must have some nice potential to move even further up. Maybe not on a news, but in general. I think that because of total reduction on last news spike I was writing yesterday.

For today I see great breakout setup on GU and already bought some, however there is a chance for it to be broken downward. There i just more room above 1.55 than below 1.54

And here's the chart:

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