FXstreet.com (Barcelona) - The pound has come under renewed pressure today after the second consecutive monthly fall in house prices showed by the Nationwide house price index. Against the dollar, however, the pound behaved better, benefiting from the US currency's declines to edge close back to the 2 dollar mark.
Ted Wilson, forex analyzer at iFOREX.bg gives the technical point of view: Resistance for the Cable is the key level 1.9990. Next is 2.0080, which is 37.9% correction of the drop 2.0570 - 1.9760, followed the broken bottom from 6 December 2.0165.
He concludes saying that support is expected at the yesterday's bottom 1.9820, followed by the 4 month lowest bottom from Monday 1.9760, and the bottom from 17 August 1.9660, which gave the beginning of the last big climb few months ago.