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Day 3

After successive losing days, my gamble on a GBP retracement paid off. Good to finally have a large one in the bank. Will keep watching GBP crosses for the next tradable trend wave. Also eyeing a couple of other setups. Meanwhile, the USD remains range bound; but it's a no go area pre-NFPs as the fundamentals (ADP vs ISM) are conflicting. Hopefully NFPs should be the tiebreaker. Happy trading folks.
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BOE rhetoric to send GBP crosses higher.


EURGBP advance stalled after hitting former(monthly) trendline support turned resistance @ 0.7770. Additional resistance in the zone comes from July 2012 low of 0.7755. A reversal pattern is already evident on the daily chart with a CCI trend line break. We're looking for price to close below its 20-day SMA to confirm a trend reversal and the fundamental trigger might be the BOE statement regarding future rate hike expectations and economic outlook to be released on Thursday.
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