Pound has failed again to break and stay above 1.6600 area

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Published: Fri, 06 Nov 2009 00:58:00 +0100

Pound has failed again to break and stay above 1.6600 area

FXstreet.com (Buenos Aires) ? GBP/USD Current Price: 1.6576. Also trapped in range, Pound has failed again to break and stay above 1.6600 area. Currently consolidating barely under that zone, pair has a slightly bearish perspective for next hours, yet likely to be corrective unless pair breaches the 1.6480 area.

?Confirmations above 1.6640 likely to trigger more upside momentum in the pair, but seems unlikely to see such movement during Asian session,? said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6550 1.6520 1.6480. Resistance levels: 1.6600 1.6640 1.6690.

By Fxstreet.com

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