Forex | Forex | Forex: GBP/USD jumps to test 1.6400 (04/09/2009 16:25:00)

Forex: GBP/USD jumps to test 1.6400

FXstreet.com (Barcelona) – The Sterling has risen around 125 pips during the American session against the Dollar from 1.6285, intra-day low to post daily highest level at 1.6410. Currently the pair is trading around 1.6390/1.6400, recovering all of its previous losses and posting 0.40% daily gains.

Valeria Bednarik, FXstreet.com collaborator, comments: “Also under pressure, indicators have turned bearish both in 1 and 4 hours charts signaling further losses ahead; however, 1.6275 support must be clear in order the pair to gain downside momentum; 200 EMA at 1.6300 is offering some support to the pair, yet remains quite flat. A bit overextended to the downside, corrections should remain under 1.6340. If above, pair can regain some upside strength yet seen limited at this point.”

Bednarik provide us with her levels: “Support levels: 1.6275 1.6220 1.6160. Resistance levels: 1.6340 1.6375 1.6415.”


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