Friday, March 20, 2009

Forex: GBP/USD: The Pound bounces up at 1.4395, advances towards 1.4495

FXstreet.com (Barcelona) – The Pound has broken 1.4450 resistance level on a bullish reaction after hitting 1.4395, and advances towards 1.4595 intra-day high.Hourly indicators point out to a rather strong upside move. If the pair breaks minor resistance at 1.4511, 1.4595 comes next, and above there, next resistance levels lie at 1.4665 (Feb 23 high) and then 1.4700/10, and Feb 9 high at 1.4970.On the downside, In case of breaking below here 1.4395, the Pound could find support at 1.4335 (Mar 18 high) and below there 1.4233 the area at 1.4160/75 before 1.4140 (Mar 17 high).

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