INTRA-DAY GBP/USD: 1.5338
Last Update At 30 Apr 2010 04:37 GMT
Although the pound has retreated in Asia after
extending y’day’s rally to 1.5366 in Australia n
sideways trading is now envisaged, reckon 1.5310/15
wud contain weakness n bring rebound but abv said
res needed to extend upmove fm 1.5126 twd 1.5399.
Buy sterling on further pullback as only firm
break of 1.5285 (prev. res) signals top, 1.5240/45.
Range Forecast
1.5315 / 1.5345
Resistance/Support
R: 1.5366/1.5399/1.5423
S: 1.5315/1.5285/1.5254
Market Moving News:
Gbp/usd – 1.5336 … The British pound rallied to 1.5366 (AUS) on active cross buying in sterling (eur/gbp fell sharply fm 0.8734 to 0.8630). Although the National Institute of Economic and Social Research (NIESR) cut U.K. 2010 GDP forecast to 1% fm 1.1%, cable maintained a firm undertone as bids are located at 1.5315 n 1.5290, however, offers are tipped at 1.5385.
