Market Moving News: GBP/USD - Jan 24

By IBTimes Staff Reporter | January 24 2010 1:35 AM

GBP/USD - 1.6278.. Cable has lost its recent shine as price has now fallen in tandem with euro as the recent downtrend in eur/gbp is taking a pause after hitting a 5-month low of 0.8650 y'day. Some bids abv y'day's 1.6244 low have contained intra-day weaknesss but stops are reported below there. We believe more stops fm recent longs are slowly built up near 1.6211 n be aware of a break there (2 U.K. data are out at 09:30GMT & then 11:00GMT). Offers on the upside are at 1.6310/30 n more abv.

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