Mizuho Corporate Bank

Technical Analysis 09 August 2010

GBP
GBP=D3, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Weekly
24Jul09 - 14Feb11
Pr
GBP=D3 , Last Quote, Candle
15Aug10 1.5975 1.5998 1.5956 1.5992 1.7
GBP=D3 , Last Quote, Tenkan Sen 9
15Aug10 1.5272
GBP=D3 , Last Quote, Kijun Sen 26 1.68
15Aug10 1.5114
GBP=D3 , Last Quote, Senkou Span(a) 52
06Feb11 1.5193 1.66
GBP=D3 , Last Quote, Senkou Span(b) 52
06Feb11 1.5554
GBP=D3 , Last Quote, Chikou Span 26 1.64
21Feb10 1.5992

1.62

1.6

61.8
1.58

1.56
50.0

1.54

38.2
1.52

1.5

1.48

1.46

1.44

1.42
Aug09 Sep Oct Nov Dec Jan10 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan11 Feb

Comment: A weekly close well above the 61% Fibonacci retracement as Cable undoes some of the ‘wrong’
moves earlier this year. Weekly moving averages have turned to bullish and it looks set to break above a massive
weekly Ichimoku ‘cloud’. Cable is still very overbought but bullish momentum is stronger than it has been in over a
year. All of the above should set up for another short-covering rally this month.

Strategy: Attempt small longs at 1.5986, adding to 1.5860; stop below 1.5680. First target 1.6000/1.6070.
Chart Levels:
Support Resistance Direction of Trade
1.5940 1.6000*
1.5820 1.6070
1.5770 1.6125
1.5695 1.6240
1.5545* 1.6275

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.