GBP/USD Current Price: 1.6652

19 November 2009 @ 06:48 pm EDT

FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6652. Consolidating around strong 1.6640/60 area, hourly indicators remain bearish for the pair, leaded by 20 SMA with a strong bearish slope. Pair needs to clearly move above 1.6690 area, to attempt a retest of strong 1.6740 that should keep further upside corrective movements.

4 hours indicators show pair correction is almost complete has they turned flat with current consolidation supporting some falls for next hours, with key support level to watch 1.6605, yesterday's low. "Expect some downside acceleration if this last gives up, "said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6605 1.6550 1.6520. Resistance levels: 1.6690 1.6740.

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