Posted by: Babu Suresh | May 30, 2010

GBPUSD-30-05-2010

Dear Friends,

GBPUSD-30-05-2010Although the political uncertainty that was partly affecting Pound ended smoothly, she has been trading without any direction for couple of months now. I expect the current trend to continue for some more months until, perhaps markets get to understand the new governments’ policies.

On the other hand, the fall is also expected to help Euro zone in a substantial way. While the grating (Rating) companies are too busy downgrading one country after the other in Europe, especially the small ones, markets will eventually get used to these noises.

GBPUSD-1-30-05-2010So far, 1.42 has been giving good support which I would expect coming week to test again since the previous rise has been without much strength.

My probable Supports: 1.4391, 1.4341, 1.4280; Resistances: 1.4513, 1.4585, 1.4654

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

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