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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Thursday, August 18, 2011

GBPUSD ended a five-day rally before a report forecast to show U.K. retail sales

The GBPUSD ended a five-day rally before a report forecast to show U.K. retail sales rose in July at a slower pace where sales including fuel rose 0.3%. BOE policy makers Dale and Weale ended their push for an interest-rate increase this month, according to minutes of the Aug. 3-4 meeting published yesterday. The MPC voted unanimously to hold the key rate at a record-low 0.5% and Posen continued to vote for a 50-billion-pound ($83 billion) expansion of the BOE’s QE program.

By
M.Zohaib Gadit
Forex Trading Consultant

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