British Pound: The Downside Prevails

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British Pound: The Downside Prevails

By Trading Central on June 1, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	69
Resistance2:	66.95
Resistance1:	64
Last:	61.05
Pivot:	64
Support1:	60
Support2:	57
Support3:	55

Pivot: 64

Our preference: Short positions below 64 with targets @ 60 & 57 in extension.

Alternative scenario: Above 64 look for further upside with 66.95 & 69 as targets.

Comment: the pair is breaking below its bearish channel lower boundary, the RSI is on the downside.

69
66.95
64
61.05 (last)
60
57
55

*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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