ISE FX British Pound: the upside prevails.

  @ibtimes on

Update on supports and resistances.

Resistance3 : 68
Resistance2 : 65.5
Resistance1 : 63.5
Last Price : 61.4
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: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

68
65.5
63.5
61.4 (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

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