8-3-08
17:18 GMT – The GU pair is giving off mixed signals on Sunday afternoon. Overall I expect the downside to hold out on both the 4H and the Daily charts but I will look to sell rallies. Their is a bullish RSI divergence on the 4H charts that indicates a possible rise in the pair to resistance at 1.9800, 1.9840 or even (if the news is strong enough) to the top of the channel resistance (yellow lines below) currently around 1.9875.
Trading Idea: short favored on rallies with targets ultimately down to 1.9675.
(click to enlarge)

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