Forex: GBP/USD breaks above 1.6200

By IBTimes Staff Reporter | January 13 2010 2:00 AM

FXstreet.com (Barcelona) - The Pound has been the major mover during Asian session and Sterling's rally from yesterday's low at 1.6060 has extended to levels right above 1.6200, with the pair trading around 1.6220, approaching 1.6240 -Dec 31 and Jan 4 high-.

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On the upside, above the mentioned 1.6240 (Dec 31 and Jan 4 high), next resistance level lies at 1.6335/40 (Dec 17 high) and 1.6410 (Dec 16 high). On the downside, support levels remain at 1.6135 session low, and below here, 1.6100/10 (Jan 8 high) and 1.6060 (Jan 6&7 high/ Jan 12 low).

GBP/JPY retreat from 149.50&60 area -Friday and Monday's high_ has found support at 1.4665 area, and the Pound has bounced up during Asian session, reaching levels around 147.85 at the moment of writing. Next resistance levels lie at 148.00 and 148.65. Support levels lie at 146.65 and 146.05.

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