INTRA-DAY GBP/USD:

Last Update At 17 Jul 2009 08:24 GMT

Rate :  +1.6317+

Active cross selling in sterling has continued
to pressure cable n decline fm y'day's 1.6482 high
to retrace recent upmove shud extend to 1.6270/80,
however, near term o/sold condition shud limit down
side to 1.6240 n yield rebound later.

Incline to sell on recovery with stop as indica
ted, abv defers n risks gain to 1.6380/90...

Range Forecast
+1.6300 / 1.6350+

Resistance/Support

R: 1.6356/1.6414/1.6482
S: 1.6240/1.6229/1.6155