Forex | Forex | Forex: GBP/USD: The Pound breaks below 1.6225 support (31/08/2009 06:39:00)

Forex: GBP/USD: The Pound breaks below 1.6225 support

FXstreet.com (Barcelona) - The Pound is opening the week on weak note ans decline from Friday's high at 1.6380 has extended during Asian session, with the pair breaking below 1.6225 session low and dropping to levels right above 1.6200 at the time of writing.

At the moment, the Sterling moves around 1.6205, with next support level at 1.6150 (Aug 26 and 27 low) and below here, 1.6120 and 1.6030 (Jul 13 low). On the upside, in case of recovery above 1.6225, next resistance levels could be 1.6270 (Aug 17 high), 1.6300 (session high) and 1.6380 (Aug 28 high).

GBP/JPY decline from Friday's high at 153.55 has extended in Asian session, below 151.00 support to afresh 7-week low at 150.15. On a longer perspective, the Pound continues its decline after having peaked at 163.09 high on early August. Support levels at the moment, lie at 150.00 and 147.10. On the upside, resistance levels are 151.00 and 151.45.
For more information, read our latest forex news.


Comments (0 posted):

Post your comment Forex-comment

Please enter the code you see in the image:


  • Forex-send Email to a friend
  •   Add To facebook

Rate this article
0
New Forex News

US: Mixed August labour market report

On balance the August labour market report disappointed slightly, but incorporated both positive and negative news.  The unemployment rate resumed its rapid upward trend hitting

Canada: First private payroll increase in 11 months

Latest (monthly change): +27.1k (Actual); -15.0k (expected) Previous: -44.5k FACTS : Canadian employment experienced a gain of 27.1K in August with part-time jobs increasing by

U.S: Top-line growth to resume in Q3

Market Watch With Q2 earnings essentially all in, investors are already turning their attention to the third quarter. The much-better-than-expected Q2 earnings came on the

U.S: Geithner at G20 Meeting

Today US Secretary Timothy Geithner released a statement of principles to guide forthcoming Group of 20 nations' meetings regarding financial regulation. These eight principles followed

U.S: Initial Jobless Claims

The four week moving average for Initial Jobless Claims has risen 14,750 over the month of August from 556,500 for the July 31st week to
U.S: ISM Non-Manufacturing (Aug)

U.S: ISM Non-Manufacturing (Aug)

The August ISM non-manufacturing index rose to 48.4 from 46.4, marking the 11th consecutive month that the sector contracted. Nevertheless, the pace of decline is

Gold Weekly Technical Outlook

Comex Gold (GC) Gold rose sharply to as high as 999.5 last week, just shy of 1000 psychological level, before turning sideway. Initial bias remains
Canadian Dollar Extend Gains on U.S. Optimism

Canadian Dollar Extend Gains on U.S. Optimism

The Canadian currency climbed even further before the end of this week’s session after optimism was renewed among traders with stocks and commodities climbing, After both Canada and the U.S. posted

GBPUSD's downtrend from 1.7042 extended further to as low as 1.6113 level

GBPUSD's downtrend from 1.7042 extended further to as low as 1.6113 level. Deeper decline is still possible next week and target is to test 1.5801

Forex Weekly Trading Forecast - 09.07.09

US Dollar: Will a Recovery in Liquidity Usher in a Breakout? Euro Forecast to Range Trade Against US Dollar on S&P Choppiness Japanese Yen Range