8 June 2009

GU Analysis:
Australian banks are on holiday.
Europe and US has a lack of news today.

Basically, it is left to the technical for any movement of the ppund today.

A number of forecast that the US enconomy recovery and the UK economy may need to print more money. There is however no news and data that directly backs them up.

Technically, the pound may trade within the range 1.6080 and 1.5785.
Support is at 1.5785, then 1.5520.
Resistance is at 1.6080, then 1.620.

Trend: Bearish, but may move side around the trading range stated.