FXstreet.com (Córdoba) - Cable weakened against the Dollar after the opening bell at Wall Street. GBP/USD approached to 1.6500 but it was rejected and fell to 1.6420 (American session low). Currently trades at 1.6435/40, 0.05% above today's opening price. The Sterling is rising for the sixth consecutive day against the Dollar so far, but Greenback gained momentum in the last hours and could rise further.
Mohammed Isah, technical analyst at FXTechstrategy, affirms: GBP was seen attacking its strong resistance at 1.6431 where its channel resistance is located in early trading today. While that level is now vulnerable, a convincing break of there must be seen to put another key resistance standing at its Sept 23'09 high at 1.6463 under pressure. We envisage a price stall at this zone but if that fails to occur recovery higher targeting even the 1.6740 level, its Sept 11'09 high may be seen.