INTRA-DAY GBP/USD:

Last Update At 24 Jul 2009 05:59 GMT

Rate : +1.6520+

Although intra-day choppy trading shud continue
after y'day's decline fm 1.6587 to 1.6467 (Aust.),
as this move signals a correction of recent erratic
upmove has taken place, nr term downside bias still
remains but reckon 1.6435/40 wud contain weakness.

Sell on recovery for 1.6475 n if cable drops to
1.6455 1st, buy for subsequent bounce to 1.6500.

Range Forecast
+1.6500 / 1.6530+

Resistance/Support

R: 1.6545/1.6587/1.6622
S: 1.6435/1.6311/1.6266