Posted by: Babu Suresh | January 6, 2010

GBPUSD-06-01-2010

Hello Friends,

GBPUSD-06012010As mentioned in my last post made on 3rd instant, Pound having failed to break 1.6265, now trying to hold with 1.59 support. I would be quite cautious on the short side as I notice the last phase of the fall has been without any credible strength. Nevertheless, any upswing that is likely to happen in anticipation of BOE’s outcome on 7th by short covering and fresh positioning, unless there is any substantial, bold changes taken by the BOE & the Govt., chances look bleak for her upward momentum to continue.

GBPUSD-1-06012010My Probable Supports: 1.5918, 1.5892, 1.5846; Resistances: 1.6038, 1.6105, 1.6240

Healthy And Wealthy Trading

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