Market Moving News: GBP/USD - Nov 22

22 November 2009 @ 05:05 am EDT

Gbp/usd - 1.6683 ... U.K. retail sales rose by 0.4% m/m n 3.4% y/y in October versus economists' expectation of 0.5% m/m n 2.9% y/y respectively. U.K. October PSNCR came in at 5.899 billion pounds versus the forecast of 3.300 billion pounds. Despite early selloff to 1.6642, cable rebounded on short-covering after the data but renewed selling interest are tipped at 1.6700 n 1.6720 with stops building up abv 1.6750. On the downside, some bids are located at 1.6660, 1.6640/45 n 1.6625.

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