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Monday 4 June 2007

Jun 4 2007, 11:08 GMT

GBP/USD: Cable is still consolidating


http://www.fxstreet.com
FXstreet.com (Barcelona) - After a quiet trading day on Friday the GBP/USD continues with its steady trend, feeling almost no momentum. Ted Wilson, forex analyzer at iFOREX.bg says: "Next targets if bullish are the tops from 9 and 1 May - 1.9997 and 2.0073 respectively."Comparing the Cable to other currencies Nicole Elliott, Senior Technical Analyst at Mizuho Corporate Bank, expects "more work between 1.9800 and 1.9900 today, noting that the Australian, Canadian and New Zealand dollars are doing far better than Cable so there might be room to catch up."

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