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Market Moving News: GBP/USD - May 11

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11 May 2008 @ 11:11 am EST
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Gbp/usd - 1.9562 ... Despite intra-day brief retreat to 1.9525/28, the British pound rebounded in New York morning on the back of dlr's broad-based weakness, however, cable ran into heavy offers at below 1.9635 (prev. sup) n has retreated on cross-selling by Eastern European names. At the moment, offers are seen fm 1.9580 up to 1.9600 n mixture of offers n stops is located at 1.9630-40. On the downside, bids remain at 1.9510-20 with sell stop orders only emerging below 1.9500...

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