Since January of 2006 the Gbp/Usd has moved between 170 and 179 pips 12 times counting last Friday. Two of the eleven times the day after such a move it moved 234 pips and 257 pips. The other nine days after such a move as past Friday it had a range of 72 to 159 pips with the average of the nine days being 104 pips. Of those nine days it only reached the mathematical R1 or S1 twice. It currently has a low of 1.9923 and the high of 1.9968 with a high low range of 45 pips. If it stays with in the 104 pip day after range it would reach 2.0027 on the top side and or 1.9864 on the bottom side. The first day of the week on the average has a below average trading day. The Gbp/Usd for 2007 has a daily average range of 122 pips compared to 128 pips the same time last year. For 2006 the Gbp/Usd ended up with a 134 pip daily range average.
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