The cable is suffering from exhaustion and is getting closer the support at 1.6330 dollars per pound. Remember that today the pair climbed 105 pips, after knowing that the perspectives about the British economy improved significantly.During the European session, it was reported that the economy should climb 1% in 2010, when the previous expectations were 0.5%. The contraction for 2009 should come at 4.5%.
The MACD shows selling signs,while the RSI is in a neutral zone. If it breaks 1.6330, the next support is at 1.6251.The resistances to consider are at 1.6344 and 1.6372 dollars per pound.