USD/GBP Index: The Upside Prevails.

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USD/GBP Index: The Upside Prevails.

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

Update on supports and resistances.

Resistance3:	78.35
Resistance2:	77
Resistance1:	73.8
Last:	70.86
Pivot:	66.8
Support1:	66.8
Support2:	65
Support3:	63

Pivot: 66.8

Our preference: Long positions above 66.8 with targets @ 73.8 & 77 in extension.

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

Comment: the RSI remains supported by a MT rising trend line, the pair is on the upside and is breaking above its resistance.

78.35
77
73.8
70.86 (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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