ISE FX British Pound: the upside prevails.

  @ibtimes on January 13 2010 8:50 AM

Update on supports and resistances.Resistance3 : 68Resistance2 : 65.5Resistance1 : 63.5Last Price : 61.4Pivot Point: 60Support1 : 60Support2 : 58.7Support3 : 56Pivot: 60Our 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: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.6865.563.561.4 (last)6058.756*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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