Sterling consolidating to yesterday's highs

By IBTimes Staff Reporter | September 10 2009 4:59 PM

FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6650. Pair is also consolidating close to yesterday's highs, resting before next leg up. With hourly indicators slightly bearish, pair could make some short downside correction movement to the 1.6620 area, where we have 20 SMA with a strong bullish slope.

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Above yesterday's high, pair should attempt to reach 1.6720 before 1.6760 level, said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6620 1.6550 1.6520. Resistance levels: 1.6685 1.6720 1.6760.

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