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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 |
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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