1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

FX Recommends - GBPUSD Analysis

Discussion in 'Forex Daily News & Outlook' started by fx-recommends, Jun 25, 2009.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    The cable which could rally to 1.658 amid an improving of the market risk appetite after the increases of May US durable good orders by 1.8 yesterday came under pressure after the Fed's US assessment and it is not trading above 1.62 again where it has found support several times in the recent 2 weeks. The cable main resistance area currently is still between 1.662 whereas it has fallen on 11th of this month and it could not be broken yesterday again and 1.666 whereas it has fallen on 3rd of this month and the way down is expected to meet the same support level at 1.62 level and the breaking of it can lead to a test of the psychological level at 1.6 and the breaking of it can expose the cable recent main low at 1.58 to be tested again as a support.
    Best wishes

    FX Consultant
    Walid Salah El Din
    E-Mail: mail@fx-recommends.com

Share This Page