Sterling had a fairly mixed day with cable breaking below the key 2.00 level on US strength. UK data continued to under perform with June Claimant Count rising to 15.5Kin its fastest rate in 15 years. Average earning rose by 3.8% in May
TECHNICAL VIEW FOR THE DAY 17.7.08
POUND is expected to be on mixed note for the day. Trading range is expected between 1.9960-2.009 levels for the day. support for the currency is seen at 1.9940 levels and resistance is seen at 2.010 levels. stochastic indicates the currency to be on downside for the day. RSI is in neutral territory keeping silent on the issue. Raising Momentum gives a caution signal.
GBP/INR:Expected to trade in red with the trading range of 85.10-86.11 levels.
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