Nairobi/Goma - International charity Oxfam said Wednesday it was concerned for the safety of civilians in the Democratic Republic of Congo as Rwandan troops entered the country to hunt down Hutu militia formed after the 1994 massacre in Rwanda.

Several thousand Rwandan soldiers entered eastern DR Congo on Tuesday under an agreement with the Congolese government.

The soldiers headed north from Goma, the provincial capital of the unstable North Kivu province, to find the militia.

Rate two-way despite sharp fall in GBP; likely cross spreaders supporting on the dip as active sellers attempt to push the rate lower into major support around the 1.2780 area. Bottom may be forming around under the 1.3030 area as the drop into the 1.2900 handle was on thin volume.
50 bar MA failed now likely to offer resistance and a close above suggests the bottom will be in. Sell signal from the toolbox validated by the drop but be cautious as trend line support approaching. Semi-official and sovereign bids and offers seen overnight.

Zagreb - Some 60 Danish students escaped serious injury Wedne

Rate falls hard as cross-spreaders sell GBP across the board. Overnight economic news seen as neutral; some rumor of UK bank downgrades adding pressure. Sell-signal from toolbox validated suggesting a test of the next major support area around the 1.3850 to 1.3780 area.

Signs of the bottom after holding the 1.4500 handle last week negated near-term with offers likely back at the sell zone around 1.4450 area now. Cross-spreaders continue to sell GBP across the board. Volumes continue light on this break.

Spillover from EURO likely. Look for two-way action into this bottom. A short-covering rally is increasingly likely now; looking for signs of late sellers.

GBP USD Daily
-Resistance 3: 1.4600
-Resistance 2: 1.4520/30
-Resistance 1: 1.4450
-Latest New York: 1.3915

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