Forex: GBP/USD: Pound pulls down, unable to break 1.6600

04 November 2009 @ 03:53 pm EDT

FXstreet.com (Barcelona) - Pound the Pound has extended its two-day rally after the Fed's monetary Policy statement, and the pair jumped about 60 pips to attack 1.6600 resistance level, although, unable to break it and at overbought levels, the Sterling pulled back to levels around 1.6565.

On the downside, the Pound might find support at 1.6500, and below here, 1.6455 (Now 3 high) and 1.6400. Resistance levels lie at 1.6600 (Intra-day high/Oct 29 high), and above here, 1.6650 and 1.6695 (Oct 23 high).

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