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Forex Market Outlook on Majors

Thu, Jul 2 2009, 06:22 GMT

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INTRA-DAY GBP/USD:

Last Update At 02 Jul 2009 06:20 GMT

Rate :  +1.6415+

Cable's intra-day selloff below 1.6452 in line
with dlr's rebound vs other European ccys suggests
recovery fm 1.6381 has ended at 1.6546 n below 1.64
06 wud signal decline fm this week's 1.6745 top has
resumed, bring re-test of 1.6381 n then 1.6350/60.

Sell on pullback with stop as indicated, abv wud
prolong choppy trading n risk 1.6501 (Asia)...

Range Forecast
+1.6400 / 1.6440+

Resistance/Support

R: 1.6452/1.6501/1.6546
S: 1.6406/1.6381/1.6359


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