With mixed results versus its primary currency counterparts, the British Pound appears to be consolidating many of its trends towards a volatile movement; positioned to take place today, it appears. The Bank of England's rate decision and policy statement at 11:00 GMT may be today's leading news event and forex traders won't want to miss out on the volatility which is sure to follow this release
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The Wild Card
GBP/CHF
After a sustained downward movement, this pair is now testing the significant resistance level of 1.7200. With the price floating in the over-sold territory on the 4-hour RSI, and a fresh bullish cross on the 4-hour Slow Stochastic, this pair is facing an impending upward correction which may turn out to be a reversal. Forex traders can benefit from this movement by going long on this pair and at a great entry price!
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Thread: Wild Card GBP/CHF 10 Sep 2009
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10-09-2009, 12:19 PM #1
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