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Thread: Discuss the GBP/USD with a DailyFX Analyst

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#9100 (permalink)

07-03-2009, 07:54 AM

insider26

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Join Date: May 2009

Posts: 61

insider26 is an unknown quantity at this point

GBP/USD target 1.62

Dollar remains generally firm despite smaller than expected losses in Asia and low volume activity in Europe. With US markets out for a long weekend, market activity to start unwinding in a couple of hours. Weaker than expected UK services PMI and disappointing Eurozone retail sales may signal the beginning of the next consolidation in data following the phase of slowing deterioration-which was zealously cheered by the markets. GBPUSD looks to test 1.6270 while recovery cpaped at 1.64 and EURUSD gains seen limited at $1.4070.

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