Forex: GBP/USD: Pound's rebound on 1.6270 extends right below 1.6600

By IBTimes Staff Reporter | November 30 2009 2:33 AM

FXstreet.com (Barcelona) - Sterling's decline from 1.6730/50 high last week found support at 1.6270 on Friday, and the pound's recovery has extended during Asian session to reach an intra-day high at 1.6590, right below 1.6600 resistance, under bullish pressure at the moment of writing.

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Initial resistance level lies at 1.6600, and above here 1.6650 (Nov 23 high) and 1.6700. On the downside, support levels lie at 1.6470 session low, and below here, 1.6400 (Nov 4 low) and 1.6360.

GBP/JPY decline bottomed on Friday at 139.30 and following recovery has been rejected at 144.00 on early Asian session, before pulling down to 142.10 session low. Support levels are 142.10 and 141.40. Resistance levels lie at 144.10 and 144.95.

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