GBPNOK

by Ashraf Laidi

Feb 9, 2009 13:01

Norwegian krone broadens strength after central bank's ... hint at nearing bottom in interest rates. With 2.50% rates compared to 0.50% in the UK, NOK is set for med term upside vs GBP, dragging GBPNOK down to interim support of 9.830 followed by 9.61. Bearish divergence between (stochastic & price) signals prolonged losses, while upside capped at intermediate resistance of 10.174, followed by 10.3 TL .

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