ISE FX British Pound: choppy.

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Update on supports and resistances.

Resistance3 : 65.5
Resistance2 : 63.5
Resistance1 : 62
Last Price : 61.62
Pivot Point: 62
Support1 : 58.7
Support2 : 56
Support3 : 53.5

Pivot: 62

Our preference: Short positions below 62 with targets @ 58.7 & 56 in extension.

Alternative scenario: Above 62 look for further upside with 63.5 & 65.5 as targets.

Comment: the pair has rebounded on its support and is approaching its resistance, the RSI calls for caution.

65.5
63.5
62
61.62 (last)
58.7
56
53.5

*USD/GBP Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the BRITISH POUND. For details go to www.ise.com

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