British Pound: The Downside Prevails

New York London GMT Tokyo Singapore

British Pound: The Downside Prevails

By Trading Central on June 4, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	66.95
Resistance2:	65.5
Resistance1:	64
Last:	61.75
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 65.5 & 66.95 as targets.

Comment: the pair is capped by a declining trend line.

66.95
65.5
64
61.75 (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

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

*New Zealand Nov. Consumer Confidence Down 4.4 Points To 121.5 - 20 mins ago
Singapore October Consumer Prices Drop More Than Expected - 27 mins ago
Thai Economy Grows For Second Consecutive Quarter - 31 mins ago
Indian Market Pares Early Gains - 34 mins ago
Fitch Affirms Taiwan’s Ratings, Maintains Negative Outlook For Local Currency Rating - 46 mins ago

Opinions From Our Contributors

Commodities China Owns The Heavy Stone Has Gold Just Broken Out Of Its Trend Channel? The Dirty Little Secrets Of Warrants, Options & LEAPS Interesting Articles To Read The Forgotten Commodity - Rice Commodity Investing: ETFs Or Mutual Funds? John Paulson Launching A Gold Fund With $250M Of His Own Money Profit From The Falling Dollar With ETFs Wheat Playing Catch-Up As Commodities Rally Regulators And Commodity ETFs: Why They’re Evolving Read More »	Financials Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Investment Ideas: Here Are 3 Dirt Cheap Stocks Treasury To Auction TARP Warrants Dear Reader, We Cannot Criticize Goldman Sachs. Instead, We Admire It 2010 Outlook For The US Banking Industry Get Rid Of Your General Electric Shares Tufts Endowment And Risk Taking? Regional Bank ETFs: The Bad And The Good Read More »	Exchange Traded Funds What You Should Know About Precious Metals ETFs And Taxes Main Street Vs. Wall Street: Using ETFs To Capitalize Why You Should Watch This Leisure & Entertainment ETF Biotech Investing: Spread Your Risks With ETFs Are You Going For Yield With Your ETFs? Rydex Market Timers: At It Again Is An Asset Bubble Forming In Hong Kong’s ETF? Senior Secured Floating Rate Bonds: The Best Investments To Own When Interest Rates Rise Why Gold Will Surge To A Record $2,000 In 2010 KBW Regional Banking ETF: Fundamentals Are Stinky, But The Chart Looks Great Read More »
Stocks S&P 500 Flat Over The Week As Investors Reflect On Prices Versus Fundamentals I’ve Noticed A Profitable Pattern Stock Picks For Monday: Nanometrics, Melco Crown Entertainment, MetroPCS Communications And Cell Therapeutics S&P 500 Index Is Still Overvalued This Small Oil Exploration Company Is Ripe For A Takeover… Here’s How To Profit 3 Steps To Becoming A More Successful Trader The Transportation Sector: Here Are Three Investments In A Sector That Are Ready To Soar Stock Market Briefs: DR Horton, Dell, JM Smucker Nordstrom - Momentum Stock Buy Stocks To Watch On Friday Read More »	Forex Month To Date Review Of The Market One Reason Why The US Dollar Might Rise Forex Wrap-up: A Massive Short-Covering Rally In The US Dollar May Just Be Starting Australian Dollar: Caution Canadian Dollar: Caution “Audit The Fed” Bill Moves Along USD/JPY Pushing Against The 100 Hour Moving Average At 89.11 Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Read More »	Economy What’s Triggering America’s Populist Rage? China Will Blow Up Before It Grows Up Contrary To Conventional Wisdom, When China Drops Its Currency Peg, The Immediate Benefits Will Flow To The Chinese, Not Americans Societe Generale Tells Investors How To Prepare For Potential “Global Collapse” Obama Commits To Free Trade Agreement With South Korea, But Auto Trade Remains An Obstacle Exponential Growth, Finite World The Message Of The 2-Year US Treasury Note, Deflation And Japan Why Investors Should Look To Japan Again Bond Sentiment: Treasury Yields May Drop LA Shipping Reaches Highest Level Since Nov. 2008 Read More »