INTRA-DAY GBP/USD:+1.6085+

Last Update At 11 Jan 2010 00:46 GMT

Friday's rally to 1.6112 confirms recent erratic
fall fm 1.6242 has made a low last week at 1.5896
n despite a strg retreat to 1.5957, sterling's sub-
sequent rebound suggests choppy trading with upside
bias is seen but reckon said res wud hold in Asia.

Still favour buying cable on dips as only break
of 1.5957 wud risk weakness twd 1.5915 b4 recovery.


Range Forecast
+1.6080 / 1.6112+

Resistance/Support
R: 1.6112/1.6154/1.6173
S: 1.6044/1.6000/1.5957