British Pound: The Upside Prevails

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British Pound: The Upside Prevails

By Trading Central on April 23, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	77
Resistance2:	73.8
Resistance1:	70.9
Last:	68.75
Pivot:	67
Support1:	67
Support2:	65
Support3:	63

Pivot: 67

Our preference: Long positions above 67 with targets @ 70.9 & 73.8 in extension.

Alternative scenario: Below 67 look for further downside with 65 & 63 as targets.

Comment: the pair has broken above its falling wedge upper boundary and should post a further bounce.

77
73.8
70.9
68.75 (last)
67
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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