After the first target done, and if it breaks, the price is likely to continue its action to the next level. Warning: if it formed a false break on the first level, and breaks above the blue line, the trend might changed. Move your SL or set your trailing stop to lock your profit.
The bearish trend could easily continue next week if US data remains supportive. As housing sector in the US took a hit with RICS dropping to –40.6, i believe the BoE will cut its rate further in the first quarter of 2008. Beware of the strong support at 2.0000 level, it might breaks, or its just bounce there.
The bearish trend could easily continue next week if US data remains supportive. As housing sector in the US took a hit with RICS dropping to –40.6, i believe the BoE will cut its rate further in the first quarter of 2008. Beware of the strong support at 2.0000 level, it might breaks, or its just bounce there.
Play Safe, Always put your Stop Loss, and use the proper Money Management...Happy Trading!!!
