Posted by: Babu Suresh | February 21, 2010

GBPUSD-22-02-2010

Hello friends,

GBPUSD-1-22022010Good to see you all amidst new crisis from various quarters trying to test the markets that were supposed to have been healing from 2008 turmoil. Can we call them short-term and long-term side effects after surgery? 

Pound was recently hammered severely due partly to Greece, gain in USD, but, she is majorly affected by the huge uncertainty prevailing in UK’s political front. Although the elections are due a long away and economy is beginning to show some improvement, undoubtedly the lack of leadership is one of the prime factors that is affecting her.

GBPUSD-22022010Technically, the last fall to 1.534 on 19th instant was absolutely without any strength, the effect of which helped her regain some of her losses. Nevertheless, before any attempt to test 1.56, I would expect 1.53 to test again.

My probable Supports: 1.5401, 1.5361, 1.5344; Resistances: 1.5492, 1.5535, 1.5582

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