British Pound: The Downside Prevails

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British Pound: The Downside Prevails

By Trading Central on November 9, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	65.5
Resistance2:	63.5
Resistance1:	62
Last:	59.6
Pivot:	62
Support1:	58.7
Support2:	56
Support3:	53.5

Pivot: 62

Our preference: Short positions below 62 with targets @ 58.7 & 56 in extension.

Alternative scenario: Above 62 look for further upside with 63.5 & 65.5 as targets.

Comment: the pair is challenging its support, the RSI is badly directed.

65.5
63.5
62
59.6 (last)
58.7
56
53.5

*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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