Forex Signal GBP/USD 16 June 2008

The effect of big traders is now showing in the market price.

Remember to buy dip in the uptrend of this pair. 1.5010 area is good to buy. You want to set your stop loss at 1.9405 or lower. You can wait for price to come down first then enter your trade. However, no one knows whether the price will go down first then go up again.

Just to be patient while you trade GBP/USD. It will be a big move this week. It will go up to 1.9720 area or more. Don’t risk more than 5-10% of your account.

Take care and God bless.

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