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30/6/2009 - FX Recommends GBPUSD Analysis

Discussion in 'Forex Daily News & Outlook' started by fx-recommends, Jun 30, 2009.

  1. fx-recommends

    fx-recommends Content Contributor

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    The cable could get above the resistance which has been formed in this same day we have aforementioned when Dow reached this year high and it is trying currently to get above its year high at 1.666 whereas it has fallen on 3rd of this month. The cable was already supported by UK June GFK Consumer Confidence Survey which came at -25 from -27 in May. By God's Will, We wait later today for UK GDP Q1 final reading which is expected show falling quarterly by 2.1% and yearly by 4.3% and it is important to watch tomorrow release of June UK CIPS manufacturing index which came at 45.4 in May well below 50 in the contracting area. If we can have a higher number this can be good for the British pound and refer to a diminishing of the contracting pace.

    Best wishes

    FX Consultant
    Walid Salah El Din
    E-Mail: mail@fx-recommends.com
     
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