GBP/USD Forecast August 2008

We see a great down in GBP/USD last week which was caused by 2 reasons:

1. The gas price was slashed down again and this pushed up US Dollar.
2. The small traders that chase after the US dollar trend and this is good for us as traders.

We can put our trade below 1.9200 today and set our stop loss at 1.9091 or we can put 50% trade right now and put another 50% trade in when price retest the previous low which is at 1.9123.

We should see our target hit at 1.9500 at least.

Be patient and see the market moves.

Have a great week of trading forex! :)

God bless.

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