FXstreet.com (Córdoba) - Cable is testing a resistance zone near 1.6590, at the same levels it had at the beginning of the day. GBP/USD has been moving most of the day inside a range with support at 1.6515 (intra-day low) and resistance at 1.6590. Cable reversal from 3-month high at 1.6841 found support at the moment at 1.6515. On the upside, above 1.6600 the next resistances lies at 1.6625/35 and above at 1.6700.
Michael J. Malpede, analyst at Easy Forex comments: The technical outlook for GBP is mixed as this weeks rally failed to hold above 1.6600. Expect near-term support at 1.6400 the November 3rd low with resistance at 1.6740.