British Pound: The Downside Prevails

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British Pound: The Downside Prevails

By Trading Central on October 28, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	67
Resistance2:	65.5
Resistance1:	63.5
Last:	61.22
Pivot:	63.5
Support1:	60
Support2:	58.7
Support3:	56

Pivot: 63.5

Our preference: Short positions below 63.5 with targets @ 60 & 58.7 in extension.

Alternative scenario: Above 63.5 look for further upside with 65.5 & 67 as targets.

Comment: the pair is rebounding on its support but remains under pressure.

67
65.5
63.5
61.22 (last)
60
58.7
56

*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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