GU Analysis:
It will be quiet tonight as the market is closed for US and Canada. There will no news in the afternoon, therefore it will be all price action.
After the G20 meeting, U.K. factories’ output will decline at the slowest pace in more than a year in the next three months as the economy recovers from recession. Britain is showing signs of emerging from the worst recession in a generation after the Bank of England last month voted to buy an additional 75 billion pounds ($123 billion) of bonds with newly created money. Such news gave a boast to the pound.
For and unless the price holds above 1.64, the pound will reach higher, given the "good news". If it break 1.642, the resistance is at 1.646 then 1.655.
If WMA5 fall below the daily EMA55, pound will hit back to 1.626, then 1.620.
Trend: Up. Wait for confrimation to break 1.642. else, try to catch a long at 1.637/1.637, but let go when pound fell below 1.622.
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