INTRA-DAY GBP/USD:

Last Update At 16 Jul 2009 06:31 GMT

Rate :  1.6379

Despite intra-day brief rebound to 1.6415/20,
cable's subsequent retreat suggests further consoli
dation below y'day's high at 1.6470 is seen but
break of 1.6365/72 is needed to signal correction
of recent upmove is under way, 1.6320/30 later.

Abv 1.6435/40 wud revive bullishness for re-test
of 1.6470. Stand aside in the meantime...

Range Forecast

+1.6375 / 1.6410+

Resistance/Support
R: 1.6440/1.6470/1.6501
S: 1.6372/1.6345/1.6302