Monday 29 June 2009

Forex: GBP/USD posts 1.6549 as fresh intra-day high and recovers its losses

The Sterling recovery against the Greenback from 1.6430 as reached 1.6549 as fresh intra-day high and the GBP/USD has posted daily gains in the European session after rising around 85 pips in the last hour. Currently the pair is trading around 1.6510/20, 0.05% above today's opening price.

George Clement, analyst at Swiss e Trade AG, comments: "Cable for once is moving quite in tandem to the euro, hovering above support levels and currently trading at 1.6490 in a slight retreat. We see the 1.6460 support holding today and then more upmoves, to the 1.6550 level."

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