Monday, May 17, 2010


GBP / USD back up to around 1.444 in early European session today. Action buying by Eastern European investors this afternoon to make GBP tersupport. There are reportedly selling interests in 1.445. If penetrated, then the resistance level of 1.45 will be next. Possible risk aversion is still high and could potentially bring the GBP / USD to 1.425 again.

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