Intraday Market Thoughts
Archived IMT (2010.01.13)
by
Jan 13, 2010 15:11
GBPUSD the top performer of the day after positive UK exploited USD weakness to lift cable above $1.6230s. $1.6320 stands as the trend line resistance from the Nov 17 high, which is deemed as the focal point for the NY close. A break above it can pave the way for $1.6430 and $1.66. Otherwise, downside remains intact. Meanwhile, GBPCAD extends recovery towards its 200-day MA of 1.6990, but only a close above 1.69 will pave the way for further upside. ASHRAF WILL HOLD AN INTERVIEW ON FOREX TV at 15:30 GMT
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