GBPJPY-30-05-09

Hello Friends,

I am sure this weekend will be special for Pound lovers thanks to my beloved grating agency, S&P for their timely downgrading. Although USD did take more hit than expected, at the end of the day, how good did we do in our trading matters a lot.

My SOLIMO indicates, additional caution is advisable since Pound has been trading without adequate strength along with heavy intraday Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term. In case of a major correction, I will not be surprised to see huge downfall in Pound before any firm upward rally towards 160. I advice my fellow traders to strictly stick with day trading and avoid over night positions.

My present supports and resistances – supports 153.25, 152.05, 151.10 & resistances 154.71, 155.65, 156.54

Healthy And Wealthy Trading

Suresh

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