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British Pound: Rebound Expected
By Trading Central on July 6, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 66.95 |
| Resistance2: | 65.5 |
| Resistance1: | 63.1 |
| Last: | 61.82 |
| Pivot: | 60 |
| Support1: | 60 |
| Support2: | 57 |
| Support3: | 55 |
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 rebounding on its strong support and is breaking above its declining trend line.
66.95
65.5
63.1
61.82 (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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