Forex Market Outlook on Majors

INTRA-DAY GBP/USD:

Last Update At 24 Aug 2009 08:05 GMT

Rate : +1.6460+

Although cable's intra-day breach of 1.6465
signals decline fm last Friday's high at 1.6625 has
resumed, near term o/sold condition is likely to
limit downside n risk has increased for a correct-
ive bounce b4 prospect of another fall later.

Exit short n sell again on recovery. Below 1.64
19 wud bring retrace. of upmove fm 1.6275 to 1.6375