22 Jun 2009

GU Analysis:
Pound failed to make pass 1.66, it fall back from 1.656. This was in the midst of no major news. Now it has fall back to 1.647.

This morning, giving the first shot is HPI. This House Price Index is a fresh indicator, but not the most accurate one. It rose by 2.4% last time, but this time it fall to negative 0.4%.

Today will be another quiet day, based mainly on technicals.

CCI34 look on the down trend. It has tried a number of times to clear the top most BB(14, 0.8) line but failed. Support is at 1.6425 (1hour EMA200), then at 1.6358, followed by 1.6250.

On the up side, resistance is at 1.659, clear this and it may hit towards 1.664.

Trend: No clear one, until cable clear 1.667 or 1.618