GBPUSD - Technical Analysis 15:23 (CET)

19 November 2009 @ 12:47 pm EDT

The cable continues with the downtrend started yesterday, getting closer to the support at 1.6600 dollars per pound. After yesterday's BoE minutes, the pound fell 222 pips so far. The perspectives point to a breaking of the support to seek the target at 1.6570. The bands of Bollinger show a volatility of 150 pips.The RSI shows the pair is clearly oversold. The next resistance is at 1.6655 dollars per pound.

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