GBPUSD Enters Resistance Area

Published September 22nd, 2009 - 07:45 GMT
Al Bawaba
Al Bawaba

The GBPUSD has rallied (from neckline support) is encountering potentially strong resistance from the 9/15 low and 61.8% of the decline from 1.6573 - at 1.6400.  A reaction off of the level is likely.  Short term traders should target 1.6360 and 1.6310.