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05 January 2006

Dollar weakness continued yesterday...

Dollar weakness continued yesterday, but momentum appears to have dried up, so we could have a dull day today ahead of US employment data at 13:30. More to be said on the GBPEUR side, with UK Service Sector PMI at 09:30 and EMU Retail Sales at 10:00.

GBPEUR is challenging the 1.4500 support. A decisive close below here could lead to renewed selling of GBP, with the next major support down at 1.4350.

GBPEUR - Support 1.4500, 1.4470 then 1.4350
Resistance 1.4567 then 1.4605

GBPUSD - Support 1.7450-60 then 1.7400
Resistance 1.7625 then 1.7725

Posted at: 15:41

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