Intraday Market Thoughts

Archived IMT (2010.07.05)

by Ashraf Laidi
Jul 5, 2010 9:54

GBP struggles on disappointing data as UK June services PMI slipped to 54.4 from 55.4, hitting a 10-month low. While the prices component remain robust, GBPUSD looking shaky in 4-hour charts, looking to test $1.5030 from current $1.5150 as market volumes fizzle out into the US holiday session. Yet, the pair must breach below $1.49 in order for the 6-week uptrend to be neutralized. USDCAD still unable to regain 1.0680, which will likely remain a considerable barrier ahead of Fridays Canadian job figures.


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