Intra-Day Market Moving News and Views
25 Apr 2016 09:00GMT
GBP/USD - ..... Although the pound jumped at Monday open and climbed to a near 3-week high of 1.4475 in thin trading conditions due to closure of New Zealand & Australia for ANZAC day holiday as short-term specs bought the pound broadly after U.S. President Obama made an appeal to Britons to remain in the EU over the w/end, lack of follow-through buying quickly led to long liquidation, cable retreated to 1.4422 before recovering to 1.4457 at European open but only to weaken further to 1.4403.
Intra-day rebound suggests sideways trading is in store ahead of release of U.K. CBI trends order for April, street forecast is look for a reading of -15 vs previous reading of -14.
Offers are tipped at 1.4445/55 and more above with stops touted above 1.4480.
Bids are noted at 1.4405-00 with stops below there.
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