Forex | Forex | Forex: Pound falls finding support at 1.6500 (23/07/2009 19:56:00)

Forex: Pound falls finding support at 1.6500

FXstreet.com (Córdoba) – GBP/USD fell after reaching a fresh 3-week high at 1.6585. The pair found support at 1.6500 and is holding above that level. Cable weakened and lost part of previous gains despite the increase in stock prices. Current price at 1.6525/30 is 0.40% above today’s opening price. Below 1.6500 the next support lies at 1.6450.

Cable is rising also today against JPY and EUR. GBP/JPY jumped to 157.55 and reach the highest price since July 3. The pair climbed more than 300 pips today. EUR/GBP is breaking an important uptrend line and is attempting to fall below 0.8600.

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