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British Pound: The Downside Prevails
By Trading Central on September 22, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 67 |
| Resistance2: | 65.5 |
| Resistance1: | 62.5 |
| Last: | 61.15 |
| Pivot: | 62.5 |
| Support1: | 58.7 |
| Support2: | 57 |
| Support3: | 54 |
Our preference: Short positions below 62.5 with targets @ 58.7 & 57 in extension.
Alternative scenario: Above 62.5 look for further upside with 65.5 & 67 as targets.
Comment: as long as 62.5 is resistance, expect a return to 58.7.
67
65.5
62.5
61.15 (last)
58.7
57
54
*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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