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The British pound may rise above 1.55 says Citigroup
by Benny Menashe (Finotec Group Inc.) | Thu, Jan 8 2009, 09:47 GMT
The British pound may rise 4.4 percent against the dollar to $1.5724 should the currency close above so- called resistance at $1.5165, technical analysts at Citigroup Global Markets Inc. said. The resistance level represents the 55-day moving average, which has curbed gains in the pound since the start of August 2008, wrote New York-based Tom Fitzpatrick and London-based Shyam Devani in a research note yesterday. Resistance is where sell orders may be clustered. “A breach of that level on a
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