GBP/USD Continues Lower

New York London GMT Tokyo Singapore

By Greg Michalowski on October 2, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

Gbp/Usd has been offered since earlier release of HPI figures. The pair is currently trading at 1.5847. We may find support down at 1.5826 which is area of an old low from Sept. 29. A break below could send pair tumbling to 1.5770, low from Sept. 25.

It will be interesting to see Sterling’s next move as traders await US non-farm payroll figures at 8:30 EST.

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2 Comments :

Comment by Thomas Gancoss

2009-10-04 11:52:14

GBP/USD will hit the support and hold in the range of 1.5500 before heading back up to the top of 1.8300-1.8500 range. The final top for a while. This will be one more surge up, in two parts, before heading down to the bottom of 1.2000-1.1000 range.
This next bottom will hit by Febuary of 2010.

Tom Milford, CT

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Comment by Jawad Subscribed to comments via email

2009-10-05 02:24:08

I wonder where did you come up with the 1.8300-1.8500 range?

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