Forex: GBP/USD: Pound picks up momentum and reaches 1.6630/35 area

23 November 2009 @ 04:59 am EDT

FXstreet.com (Barcelona) - The Pound is picking up momentum on early European session and recovery from 1.6460/57 support area extends above 1.6600, with the pair approaching potential resistance area at 1.6625/35.

Initial resistance could be located at mentioned 1.6630/35 (Nov 5 and 6 high), and above here, 1.6700 and 1.6755 (Nov 19 high). On the downside, support levels lie at 1.6495/00, and below here, 1.6460 (Nov 20 low) and 1.6400 (Nov 4 low).

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