Pair:  GBPUSD Daily Bullish Butterly
Date : 24/07/2011

News: The British Bankers' Association
Actual -
Forecast 31.30K
Previous 30.50K

The British Bankers' Association (BBA) Mortgage Approvals measures the number of new Mortgage Approvals, backed by the BBA, during the given month.
It includes more than half of total UK mortgage market.
It provides information about the buyers in the housing market in the UK.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

Technical’s: : Mr Has price has Broken out above 55DMA And kissing t
he back of the Poseidon Trend Line

Strategies:
Our Preference is to try and buy dips around the Holding break out Zone

@ 1.6196 and 1.6156

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Elwave Scenario

Entry: 1.62977

Stop: 1.6545
Target; 1.5753
Success %: 79%

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