Intraday Market Thoughts

Archived IMT (2010.10.28)

by Ashraf Laidi
Oct 28, 2010 18:09

GBPUSD 4-HOUR CHART currently showing a shadow of as high as $1.5978, so a NY close below $1.5940 should spell consolidation & potential declines into Asia. Im still sticking with my GBPUSD HotChart which could well be further validated by tomorrows UK M4 Money supply (m/m and y/y) & mortgage approvals, after which the September data fell to 18-month lows. BoEs Mervyn King directly told us last week there was not enough money in the economy. Tomorrows Q3 GDP from the US will likely spell more volatility in USDJPY than GBPUSD but GBPJPY would also be an option for the shorts in the event of sub-2.0% reading. I am away on business so most of my updates and insights will be on Twitter Here's my LATEST VIDEO FOR REUTERS INSIDER


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