Resistance 3: 1.9750/60

Resistance 2: 1.9720

Resistance 1: 1.9680

Latest New York: 1.9612

Support 1: 1.9580

Support 2: 1.9550

Support 3: 1.9520


Toolbox provides another strong sell signal overnight, target is short is around the 1.9480/19500 area through the week. Surging oil prices helped EURO last week but a softer start is likely spilling over into GBP. Spillover weakness from EURO still likely all week. Continue to expect a lot of cross-trading. Aggressive traders can add to their open shorts anywhere under the 1.9650 area I think; if not short sell a rally into the 1.9650/80 area if you get it today.

Data due Tuesday: All times EASTERN (-5 GMT)

4:30am GBP BBA Mortgage Approvals

Analysis by: written by Jason Alan Jankovsky


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