British Pound: Rebound Expected

New York London GMT Tokyo Singapore

British Pound: Rebound Expected

By Trading Central on June 30, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	66.95
Resistance2:	65.5
Resistance1:	63.1
Last:	60.5
Pivot:	60
Support1:	60
Support2:	57
Support3:	55

Pivot: 60

Our preference: Long positions above 60 with targets @ 63.1 & 65.5 in extension.

Alternative scenario: Below 60 look for further downside with 57 & 55 as targets.

Comment: the pair is still challenging its MT declining trend line, the RSI is well directed.

66.95
65.5
63.1
60.5 (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:

*German September Industrial Output Rises 2.2% On Month - 1 min ago
*Portugal July.-Sept. Exports Down 17.5% On Year, Imports Fall 20.4% - 1 min ago
Singapore May Need More Measures To Control Property Market Speculation: MAS - 3 mins ago
Slovenia Sept. Trade Deficit Narrows - 9 mins ago
Slovakia Industrial Output Drops At Slower Pace In September - 28 mins ago

Opinions From Our Contributors

Commodities Gold, Silver, Oil, Natural Gas: Sideways Trading Action Likely US Dollar Tops, While Precious Metal Stocks Bottom: There’s More To Seasonality Than Summer Doldrums ‘Worst Is Behind Us,’ UH Economist Says Non Farm Payrolls To Bring The Bears Out Eight Months Into The Rally, What’s Next For The US Stock Market And Gold? Update: Gold’s Expanding Arc In Daily Chart Back To Bubble Land Fuel Your Stock Portfolio With BHP Billiton: The Best-Run Commodities Company In The World Will Gold’s Historic Bull Run Spill Over Into Silver? Gold, Silver, Oil And Natural Gas Have Gone Wild! Read More »	Financials The Mob Rules - At Least So Long As Long As Goldman And The Fed Can Continue To Drive The US Dollar Into The Ocean Stock Picks For Monday: Citigroup, JDS Uniphase And General Electric Are Discount Broker Shares Worth Owning? Investment News Briefs: UBS Fined $13.3 Million; Exxon And Shell Sign Iraq Oil Contract; Shares Of Ancestry.com Soar On IPO Retaining Risk On Wall Street: Necessary But Painful A Still-Safe 18% Dividend In “Virtual Banks” Goldman Sachs ‘Shooting Fish In A Barrel’ Warren Buffett Goes “All In” On America… How To Play The Oracle’s Big Bet IASB At Odds With FASB On ‘Extend And Pretend’ Option Traders Suggest Further Retail Sector Weakness Read More »	Exchange Traded Funds Rydex Market Timer Funds: Extremely Mixed ETFs To Cover What Warren Buffett Is Buying 10 Reasons ETF Tracking Error Occurs Law Firm Files Class Action Lawsuit On Behalf Of Investors In ProShares Ultra Oil & Gas Fund (DIG) 6 Reasons To Watch China’s ETFs Five Tips For Trading ETFs The Carry Trade: What Is It And How To Play It? Midday Market Update: Jobs Report Cheers Wall Street Gold ETF: With Each Push Higher, Volume Has Been Declining Gold To Continue Its Record Run As Central Banks Stock Up Read More »
Stocks Many Western Oil Producers Like Exxon, Shell And Eni Are Reluctantly Returning To Iraq’s Oilfields Stock Investor Sentiment: Changes Within The Indicators Combining Bollinger Bands On Rates Of Change In The VIX Is Another Bubble Building In Stocks, Commodities And Currencies? Month To Date Market Review S&P 500: Market Is Strong, But Correction Should Continue Doctor Up Your Portfolio With This Medical Communications Company Dendreon Corp.: Put This Promising Biotech Stock On Your Watch List Has Asia Dethroned Detroit As The Auto Sector Leader? Three Marketing Giants Adjust To The New “Post-Crash” Reality Read More »	Forex Monday’s Forex Outlook Dollars And Books Revisited Weak U.S. Economy May Not Mean Weak Dollar This Time Australian Dollar: The Downside Prevails Canadian Dollar: Caution USD/JPY Moves Below The 89.82 Level As Stocks Move Back And Forth Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Read More »	Economy Cartoon: I Feel Bullish… Economic, News And Corporate Earnings Reports For The Week Nov 9 - 13 Stimulus Is Only Stimulating “Economic Misery” The Problems With “Printing Your Way Out Of Debt” US Unemployment Rate Up Unexpectedly At 10.2%: Is The Economic Rebound A “Jobless Recovery”? US Commercial Property Sector: A Tsunami Of Red Ink Interesting Articles To Read US Unemployment Rate Troubling, But … Cartoon: It’s Still The Economy, Stupid Extension Of US Unemployment Benefits: Will That Really Benefit The Overall Economy? Read More »