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Tuesday, October 10, 2006

GBP/USD: Stops Below 1.8575 Tripped, New 11-Week Lows Plumbed

Cable has tripped stops below 1.8575 en route to new 11-week lows a few pips shy of 1.8550 as the USD racks up early NY gains. 1.8500 is among touted bear targets south of 1.8550.

1.8575/80 now represents a rebound resistance window. 1.8580 was the London morning low, plumbed on the back of August's above-forecast UK trade deficit

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