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TECHNICALS−Pound resistance at $1.9740 ahead of $2

Mon, Feb 25 2008, 10:28 GMT
by Benny Menashe

Finotec Group Inc.


GOLDMAN SACHS

GBP/USD: "Resistance at $1.9740; above $1.9960 is needed to confirm a double bottom reversal and target $2.06."


RBC CAPITAL MARKETS

NZD/USD: "The cyclical highs (24 July 2007) at US$0.8110 represent near term resistance. Downside, support comes in at US$0.8050/60."


SEB

EUR/USD: "With the last week ending at $1.4841 the prior weekly high was exceeded by 20 pips. With a short term base in the $1.4785/95 area we expect continued pressure towards the upper boundary ($1.4893)."

EUR/JPY: "Like several sessions last week, the market tried lower on Friday but was almost immediately returned into the resistance zone. The behaviour points to a still persisting upward pressure and a visit to 161.40 still lurks."


LLOYDS TSB CORPORATES & MARKETS

GBP/USD: "Range bound for now. Long-term bias is dollar bearish, but expects the range to stay for now. $1.9560 buy zone."

GBP/JPY: "Range bound, but caught in the lower end of the range. Risk developing for a break towards 205.00 yen."


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http://www.finotec.com/ | support@finotec.com

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