4 Oct 2010

GBP/USD analysis:
Not much of news.

Will the Europe terrorist treat has any impact on the market. Asia market continue to make runs with better China economic data.

The pound now began its squeezed between trading range of 1.59 and 1.74. After it failed to break 1.59 and break below 1.74, these two lines become the natural resistance and support lines.

Euro made a dip this morning. My expectation is for the pound to go low and continued towards the support line. CCI support this decisions.