11 Oct 2010

GBP/USD Analysis:

After last week of bull run, with equity market having the extra dollars to boost run, GBP and Eur both made new highs.

This week, I am expecting some consolidation.

Pound has start running up from 1.535 to 1.620. The retracement is expected at support 1.586, then 1.576.

Alternatively, Pound may attempt 1.60.

With the lack of news, I am expecting the price range between 1.6 and 1.586.