Posted by: Babu Suresh | October 31, 2009

GBPUSD-311009

Hello friends,

GBPUSD-311009I would call this week’s price action of Pound as a balanced one when compared to the previous couple of weeks. Coming week is flooded with array of economic data from UK, the outcome of which will help traders capitalize on volatile price movements.

While 1.62 is still holding well, surpassing 1.65 will be entirely based on the market sentiment. After the release of GDP data, there has not been much noise from UK to support Pound either to go down or to go up, she has been solely following USD. On USD front, coming week will see some more up move but the move may have weakness. On the whole it will be yet another interesting week ahead.

GBPUSD-1-311009My Probable Supports: 1.6390, 1.6323, 1.6249; Resistances: 1.6544, 1.6617, 1.6691

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

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