Sterling remains strongly bearish

 @ibtimes
on November 02 2009 9:46 PM

FXstreet.com (Buenos Aires) - GBP/USD Current Price: 1.6385. Losing the 1.6400 area, pair is crossing upside down 20 SMA in the hourly that remains strongly bearish. 200 EMA, flat lies above current price limiting further rises despite momentum remains healthy.

Bigger time frames are still pointing to the downside, thus also unclear, said Valeria Bednarik, collaborator at FXstreet.com. Break under 1.6340 support zone should send pair to test the 1.6250 static support area, also 20 SMA in the daily chart.

Support levels: 1.6340 1.6290 1.6250. Resistance levels: 1.6410 1.6440 1.6485.

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