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Forex Market Outlook on Majors

Tue, Jul 14 2009, 07:01 GMT

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INTRA-DAY GBP/USD:

Last Update At 14 Jul 2009 06:15 GMT

Rate :  1.6265

As cable has rebounded in tandem with intra-day
dlr's renewed weakness vs European ccy, suggesting
the pullback fm Asian high at 1.6294 has possibly
ended earlier at 1.6229, however, abv said res is
needed to extend y'day's rise fm 1.6033 to 1.6329.

Below 1.6229 may risk retrace. to 1.6200/05 b4
prospect of rebound. Stand aside in the meantime.

Range Forecast
1.6250 / 1.6285

Resistance/Support

R: 1.6294/1.6329/1.6381
S: 1.6229/1.6200/1.6155


Trendsetter Financial Markets Ltd. | Room 1309 - 1311, 13/F., Tai Yau Building, No. 181 Johnston Road, Wan Chai, Hong Kong.
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