• Tech on GBP/USD

Market news

20 December 2010

Tech on GBP/USD

Resistance 3:$1.5760
Resistance 2:$1.5650
Resistance 1:$1.5550
Current price: $1.5507
Support 1: $1.5470/50
Support 2: $1.5340                 
Support 3: $1.5200

Comments: Rate remains under pressure with no major changes in tech. Initial support comes at session/Friday lows around $1.5470/50. Further support is at $1.5340 (Sep 14 lows) and stronger - at $1.5200 (Sep 07 lows). If correction comes the target is on $1.5550 (50% of Friday's decline). Above there is a room for a rise up to $1.5650/60 (Dec 17 highs), and then - to $1.5760.

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