[tgamin]

GBP/USD 10th November 2008.
1) Short-term Intraday analysis.
1,588 level is just the top of two weeks downtrend movement from 1.75 levels down to 1.54. We could see 1.5716-1.575 support level for the coming hours with the cross-trend point situated at 1.578 for the time being. We are looking for closing above 1.59 for confirmation of further gains towards 1.6-1.62.
Intraday sentiment: Neutral


2) Weekly perspective.
Daily candles shadows telling us about possible short-term downtrend movement down to 1.556-1.56 support line. Once again, a very strong support level is 1.53 for the coming weeks.
Intraday sentiment: Neutral