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Trading Call & Price Forecast on GBP/USD

The above target is my target resistance for GBP/USD within the next few sessions. As I was away for a little too long today, I missed my entry target for today. I will be looking for a 50,000 long entry into this market if my target price at 1.7490, with stops placed at 1.7460 if this order is done. Let's look forward to it.  

Can we start buying now?

Today has also been one very interesting day for the financial markets.  With time running out for AIG's vault, it seems like all eyes are looking at the Fed to provide a bridging loan to lend the company a helping hand. Additionally, if rumours are right, WAMU may soon get off the radar screen if JPM has interest in them. Looking at the market on the macro level, we have witnessed the more than $600B in share value that got worthless or disappeared in the financial and banking sector, and historically, equity markets on average drops 26% during a recession, where now S&P 500 has already reached 23%. In addition, current dividend yield of some stocks have begun to surpass yields from Treasury Bills products. One more evidence is taken from Thomas J. Lee, JPM Chief US Equity Strategist in New York, net cash balances in margin accounts at NYSE member firms are highest in at least 50 years, citing $932B has poured into money fund since Aug 2007. So do you think this could be a pos...