Market Moving News: GBP/USD - Jan 20

 @ibtimes
on January 20 2010 1:29 AM

GBP/USD - 1.6295.. What goes up must come down - although recent active buying of sterling vs eur helped price to move higher everyday, traders came to their senses y'day as they saw intra-day selloff in the euro shud drag the pound lower. Market is obviously long of sterling either vs eur or usd n if the golden cross is unwound, cable will be smacked very hard, however, big stops are believed to be near or below 1.6200/10. Offers shud slowly build up fm 1.6350-1.6400 region as many are looking to offload their recent longs.

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