GBP/USD: Pound Bounces at 1.6330 and Tests 1.6400
June 14, 2009 by admin · Leave a Comment
The decline from the 1.6600 intra-day high has found support at 1.6330, and the Pound is attempting a recovery move, reaching levels at 1.6385/00 at the moment of this writing.
According to Valeria Bednarik, collaborator at FXstreet.com, below 1.6340 the pair will confirm further losses: “Pair gained bearish momentum after breaking an ascendant trend line coming form 1.5848 low, and continues bearish yet a bit exhausted to the downside.”
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