GBP/USD back below $1.6200

Market news

9 March 2011

GBP/USD back below $1.6200

Breaks back below $1.6200, extending its corrective pullback off late European morning highs of $1.6243. Break below $1.6190 sees rate challenging next support at $1.6177 (61.8% $1.6137/1.6243) a break to allow for a move toward $1.6162 (76.4%).

US: Jan wholesale inventories +1.1%.

Before the bell: Stocks poised for flat open

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