Forex: GBP/USD: Pound breaks below 1.6330, Monday's low

03 November 2009 @ 02:47 am EDT

FXstreet.com (Barcelona) - The Pound is weakening ahead of the European session opening, breaking below Monday's low at 1.6330, reaching a fresh low at 1.6318 at the moment of writing.

In case of consolidation below 1.6330 (Nov 2 low), next support levels could lie at 1.6285 (Oct 27 and 28 low) and 1.6245 (Oct 19 and 26 low). On the upside, recovery from current levels could find resistances at 1.6420 session high, and above here, 1.6475 (Nov 2 high) and 1.6550.

GBP/JPY has dropped during Asian session, from 148.55 high, to 147.00, testing the floor of the last two days range, from 147.00 to 148.95 on the upside. In case of breaching below 147.00 next support levels are 145.80 and 144.55. Resistance levels are 1.4855 and 148.95.

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