Pound recovery extended to the 61.8% retracement of the last daily fall

25 November 2009 @ 07:07 pm EDT

FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6702. Pound recovery extended to the 61.8% retracement of the last daily fall yet still remains capped under static resistance level 1.6740. Hourly indicators had lost momentum but price remains above 20 SMA that holds a strong bullish slope, while 4 hours charts indicators also turned lower, suggesting only a clear acceleration above mentioned level could send pair back up.

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