Thursday, July 7, 2011

GBP/USD on 7-Jul-2011

Continue trading in range with downward bias.

Intraday trade:
Long at 1.5935, SL1.5908 (-30 pips), TG 1.6038 (100 pips) valid till 4pm (GMT+8)
Short at 1.6094, SL 1.6121 (-30 pips), TG 1.5991 (-100 pips) valid till 7pm (GMT+8)

Economic Data Front - GBP & US (GMT+8)
GBP 16:30: Jun Manufacturing Production, exp: 1.1%
GBP 19:00: Official Bank Rate, exp: unchange at 0.5%

US 20:15: Jun ADP Non-Farm Employment Change, exp.: 70K
US 20:30: 07/02 Initial Jobless Claims, exp.: 420K

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