ISE FX British Pound: the downside prevails.

By Trading Central
04 December 2009 @ 09:20 am EDT

Update on supports and resistances.

Resistance3 : 65.5
Resistance2 : 63.5
Resistance1 : 62
Last Price : 60.31
Pivot Point: 62
Support1 : 58.7
Support2 : 56
Support3 : 53.5

Pivot: 62

Our preference: Short positions below 62 with targets @ 58.7 & 56 in extension.

Alternative scenario: Above 62 look for further upside with 63.5 & 65.5 as targets.

Comment: the pair is rebounding on its support but should be capped by its resistance.

65.5
63.5
62
60.31 (last)
58.7
56
53.5



*USD/GBP Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the BRITISH POUND. For details go to www.ise.com

For more forex information go to www.tradingcentral.com

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