GBPUSD: update after the strong movements-12:20 (CET)

20 November 2009 @ 07:40 am EDT

The pair found support, after a day of gains for the dollar, at 1.6626. In the daily candles chart, we can deduce that once 1.6581 is lost, the pair will correct in the next days / weeks to 1.6393. Today, we see the price boxed between 1.6669 and 1.6626 that, following yesterday's trend, it got to 1.6525. Above, the price will try to rebound in this support, as it did on the 6th and 12th of November. If not, the price will try to trade at 1.65 and 1.6474.

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