Mizuho Corporate Bank

Technical Analysis 18 January 2010

GBP
GBP=D3, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Daily
15Sep09 - 23Feb10
Pr
GBP=D3 , Last Quote, Candle
18Jan10 1.6253 1.6320 1.6250 1.6300
GBP=D3 , Last Quote, Tenkan Sen 9
18Jan10 1.6127 1.68
GBP=D3 , Last Quote, Kijun Sen 26
18Jan10 1.6122
GBP=D3 , Last Quote, Senkou Span(a) 52
1.67
22Feb10 1.6124
GBP=D3 , Last Quote, Senkou Span(b) 52
22Feb10 1.6356
GBP=D3 , Last Quote, Chikou Span 26 1.66
14Dec09 1.6300

1.65

1.64

1.63

1.62

1.61

1.6

1.59

1.58

1.57
28Sep09 12Oct 26Oct 09Nov 23Nov 07Dec 21Dec 04Jan 18Jan 01Feb 15Feb

Comment: Now that consensus opinion is firmly against sterling and the yen, these were last week’s best
performers, reversing their position in December. Cable is struggling with a large Ichimoku ‘cloud’ and moving
averages have crossed to bullish. Note the daily ‘cloud’ narrows sharply by the 26th of this month so prices should be
able to break through it eventually.
Strategy: Attempt longs at 1.6300, adding to 1.6255; stop well below 1.6200. Add to longs on a sustained break
above 1.6415 for 1.6555 short term.
Chart Levels:
Support Resistance Direction of Trade
1.6250 1.6320
1.6211 1.6357
1.6150 1.6415
1.6063 1.6500
1.6000 1.6600

Produced by London Branch - Nicole Elliott +44-20-7786-2509

The information contained in this paper is based on or derived from information generally available to the public from sources believed to be reliable. No representation or
warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This paper has been prepared
solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading
strategy.

Charts provided by Reuters.