Wednesday, September 2, 2009

GBP/USD: Pound approaching 1.6200 after bouncing at 1.6115 (Barcelona) - The Sterling rallied on Tuesday's Asian session to a week high at 1.4375 to drop afterwards to 1.6115 low, which so far has hold Pound's decline, and the pair is trying ti get back to higher levels ahead of European session opening, reaching, so far 1.6190.

On the upside, the Pound could find resistance at 1.6185 (Aug 31 low), and above here, 1.6225 and 1.6280. On the downside, initial support lies at 1.6150, and below here, 1.6115 and 1.6035 (jul 14 low).

GBP/JPY reached 152.80 high on Tuesday after bouncing at 150.00, although the pair dropped later to hit a fresh two-week low at 149.15 during early Asian session, to bounce back returning above 150.00 at the time of writing. Support levels are 149.10 and 148.00. On the upside, resistance levels lie at 150.26 and 150.60.

On a wider perspective, the Pound remains trading under a downward trending line after having peaked at 163.10, 2009 high on early August.

GBP/USD (Sep 02 at 07:31 GMT)

1.6138/41 (-0.07%)

H 1.6192 L 1.6112

[?]Trend Index[?]OB/OS Index
Data updated on Sep 02 at 07:20 (15-minute timeframe)

[ View GBP/USD technical studies ]

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