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 |
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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