ISE FX British Pound: continuation of the rebound.

 @ibtimes
on December 17 2009 9:20 AM

Update on supports and resistances.

Resistance3 : 68 Resistance2 : 65.5 Resistance1 : 63.5 Last Price : 62.14 Pivot Point: 60 Support1 : 60 Support2 : 58.7 Support3 : 56

Pivot: 60

Our preference: Long positions above 60 with targets @ 63.5 & 65.5 in extension.

Alternative scenario: Below 60 look for further downside with 58.7 & 56 as targets.

Comment: the pair has rebounded on its support and is breaking above its resistance, the RSI is well directed.

68 65.5 63.5 62.14 (last) 60 58.7 56

*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

width=500

Forex Trader Library Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.

Share this article

More News from IBT MEDIA