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Mizuho Corporate Bank

Technical Analysis 13 January 2010

GBP=D3, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Daily
05Sep09 - 18Feb10
GBP=D3 , Last Quote, Candle 1.69
13Jan10 1.6159 1.6225 1.6137 1.6223
GBP=D3 , Last Quote, Tenkan Sen 9
13Jan10 1.6069
GBP=D3 , Last Quote, Kijun Sen 26
13Jan10 1.6122
GBP=D3 , Last Quote, Senkou Span(a) 52
17Feb10 1.6096 1.67
GBP=D3 , Last Quote, Senkou Span(b) 52
17Feb10 1.6356
GBP=D3 , Last Quote, Chikou Span 26
09Dec09 1.6223 1.66









17Sep09 01Oct 15Oct 29Oct 12Nov 26Nov 10Dec 24Dec 07Jan 21Jan 04Feb 18Feb

Comment: A potential, if crooked, ‘double bottom’ as Cable tests the recent high at 1.6242. This is merely
the first of many upside obstacles of which the next is a large Ichimoku ‘cloud’. Note that 1.6375 is the mean of the
last thirty years so no wonder prices have been hovering around here for seven months.

Strategy: Attempt longs at 1.6210, adding to 1.6140; stop well below 1.6000. First target 1.6240, adding to
longs on a sustained break above 1.6250 for 1.6400.
Chart Levels:
Support Resistance Direction of Trade
1.6137 1.6225
1.6063 1.6242*
1.5925 1.6300
1.5895 1.6355
1.5832* 1.6400

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

Charts provided by Reuters.