Forex: GBP/USD rises back above 1.6500

20 November 2009 @ 11:38 am EDT

FXstreet.com (Córdoba) - The Pound rose above 1.6500 and continues to recover after falling to 1.6458 posting the lowest price since November 4. GBP/USD currently trades at 1.6520/25, 0.88% below today's opening price. Immediate resistance could be found at 1.6540 and above at 1.6600. To the downside support could be located at 1.6450 (Nov 3 high) and below at 1.6400/1.6405 (Nov 4 low).

The Sterling is also lower today against the Yen. GBP/JPY fell to 146.43, posting a 2-week low. The pair then rebounded but is holding below 147.00. In the last three day has fallen 350 pips.

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