British Pound: Testing The Channel Support

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British Pound: Testing The Channel Support

By Trading Central on February 5, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	77
Resistance2:	73.8
Resistance1:	71
Last:	68.35
Pivot:	66.8
Support1:	66.8
Support2:	65
Support3:	63

Pivot: 66.8

Our preference: Long positions above 66.8 with targets @ 71 & 73.8 in extension.

Alternative scenario: Below 66.8 look for further downside with 65 & 63 as targets.

Comment: the RSI is approaching its MT rising trend line, the pair is approaching its support.

77
73.8
71
68.35 (last)
66.8
65
63

*USD/GBP Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the BRITISH POUND. For details go to www.ise.com

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