Archived IMT (2010.02.25)
The GBP damage remains the headline of the day (see previous IMT) amid rising expectations of further quantitative easing from the Bank of England. GBPUSD bottoms at the $1.5273--50% retracement of the rise from the Jan 2009 low to the Oct 2009 high. Any recovery is seen capped at $1.5345-50. GBPJPY faces more losses at 135.20. Speculation that S&P would downgrade Greece credit rating weighed on EUR but the $1.3445 support continues to hold for now. AUD follows GBP in being the worst performer of the day, whose lower lows in the weekly chart suggests a possible testing of 0.8775 in AUDUSD. Gold immobile around 1090, with 1060 preliminary target intact, followed by 1035. View Ashraf's interview on CNBC yesterday discussing GOLD & EURUSD http://bit.ly/ bZ6Fwz
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