INTRA-DAY GBP/USD OUTLOOK

INTRA-DAY GBP/USD OUTLOOK - +1.6640+

Update Time: 25 Nov 2009 06:59GMT
INTRA-DAY GBP/USD OUTLOOK - +1.6640+

Cable's present breach of NY res at 1.6600 sug-
gests intra-day upside bias remains for near term
rise fm y'day's 1.6497 low to extend to 1.6630/35
but only abv 1.6649 wud bring stronger correction
of recent decline fm 1.6460 to 1.6676/80 later.

Incline to buy cable on dips n only below 1.6576
wud prolong consolidation n risk 1.6531/35.

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Rate: +1.6640+
Strategy: +Target met+
Position: Long at 1.6605
Objective: 1.6640
Stop-Loss:
Resistance: 1.6649/1.6676/1.6715
Support: 1.6573/1.6531/1.6497