ISE FX British Pound* ST: capped by a negative trend line.

By Trading Central
09 April 2009 @ 10:20 am EDT

Update on supports and resistances.

Resistance3 : 77
Resistance2 : 73.8
Resistance1 : 70.9
Last Price : 67.95
Pivot Point: 70.9
Support1 : 66.8
Support2 : 65
Support3 : 60

Pivot: 70.9

Our preference: Short positions below 70.9 with targets @ 66.8 & 65 in extension.

Alternative scenario: Above 70.9 look for further upside with 73.8 & 77 as targets.

Comment: the pair should strike against its new resistance and face a weakness as the RSI is bearish.

77
73.8
70.9
67.95 (last)
66.8
65
60



*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

For more forex information go to www.tradingcentral.com

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