Author: admin   Add date: 05/01/2009   Publishing date: 05/01/2009   Hits: 1

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Sterling against the U.S. dollar: Although the prospect of still lower than dilapidated Channel. http://media.barchart.com/cm/users/6879/gbpusd18.gif Sterling against the U.S. dollar: the continuation of last Friday as a low-gain yesterday was the pound continued to trade below its rising channel break, and continue to occur at the same time, we see a further decline in the risk of weakness. In this case, the April 22'09 low of 1.4396 to 1.4305 against the next level, 06'09 its high in March before the 1.4111 level, its Mar 30'09 high. The daily relative strength index is now down to a lower implied further weakness. To the point of view, the initial resistance at 1.4662 level, its high in February 23'09, his January 16'09 / Feb 09'09 high of 1.4981/86 to reduce prices through further accelerate to the level of 1.5066, the April 16'09 high. Above the latter to clear the way for the resumption of the recovery of two starts at 1.3655 level, its Mar 11'09 high. In short, the rest and held below its rising channel realization, the threat is still down. Support the comments April 22'09 low 1.4396 Mar 06'09 high 1.4305 Mar 30'09 high 1.4111 Resistance to comment Feb 23'09 high 1.4662 1.4986/59 Apr 06'09 / Feb 09'09 high April 16'09 high 1.5066 Daily Chart: GBPUSD

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