Forex Market Outlook on Majors |
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INTRA-DAY GBP/USD: Last Update At 03 Jul 2009 02:43 GMT Rate : 1.6377 As cable has rebounded in tandem with euro after trading abv y'day's NY low of 1.6323, suggesting the decline fm this week's high at 1.6745 has possi bly made a temp. low n nr term upside bias is seen for a recovery but reckon res at 1.6430 wud hold. For st trade, buy dips for 1.6400 n if sterling rises to 1.6410 1st, sell for retreat to 1.6360. Range Forecast 1.6350 / 1.6390 Resistance/Support R: 1.6400/1.6430/1.6465
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