FXstreet.com (Barcelona) - The Sterling has fallen further in the last hour against the Dollar, continuing with its decline from 1-week high at 1.6720 to test break MA200 hourly chart at 1.6570 and test 1.6550 level. Currently the pair is trading around 1.6555/65, 0.40% below today's opening price action at 1.6625.
The ecPulse.com analysis team comments: As for the sterling-dollar pair, it is declining on the daily and 4-hour charts. The pound also fell against the dollar after Trichet's press conference. In addition, PMI services for November released today declined to 56.6 from 56.9. So far, the pound is trading at 1.6584 setting a high of 1.6719 and a low of 1.6572; while the coming support for the pair is seen at 1.6570 and the resistance is spotted at 1.6590 then 1.6613.