British Pound Technical Outlook

Published April 7th, 2008 - 05:21 GMT
Al Bawaba
Al Bawaba

On Friday, Cable tested a resistance line drawn off of the 3/14 and 3/27 highs and failed.  This level is also defended by the 61.8% of 2.0191-1.9728 at 2.0014. 



The failure inspires confidence in the bearish bias against 2.0191.