GBP/USD Continues To March Higher

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GBP/USD Continues To March Higher

By Greg Michalowski on June 11, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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Watch the 1.6596 as the next target level (was a high on June 2nd). Other levels of importance above include the high for the year at 1.6661 and 1.6672 which was the high price on October 30th 2008. On the downside, the 1.6427 level is the 38.2% Fibonacci Retracement of the move down from 2007 high price. The 1.7331 level could a longer term target for the pair. This level is the 50% retracement level of the same longer term move down from 2007 high price.

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