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Wednesday, November 01, 2006

GBP/USD: 1.9100 Vaulted, New 12-Week Peak Scaled

Tripped stops above 1.9100 (yesterday's high) helped inflate cable to a fresh 12-week peak of 1.9105, following the sating of sell interest at 1.9090 and 1.9100. 1.9090 was today's Asian session top, and is now a pullback support point. Lower props include 1.9057 (early Europe intra-day low), and 1.9043 (Monday's high). Further offers are tipped ahead of 1.9146--the 16-month high notched on August 8.

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