5 Oct 2010

GBP/USD Analysis:
The first news in the morning was BOJ trying to reduce pressure on appreciating yen. Dow retreated before earnings report, probably soften by speech from Wen Jiabao. Woes from europe return.

These fundamental reports only add to confrim the bearish movement of the GBP. Though it shot high because of better than expected PMI report yesterday, together with the Euro, GBP has retreated this morning.

GBP is still ranged between 1.574 and 1.59. As such trade within range.