Forex: GBP/USD finds support at 1.6550

Mon, Sep 14 2009, 18:59 GMT
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FXstreet.com (Córdoba) – Cable found support at 1.6550 and from there started to rise. Currently the pair is at 1.6580/83, at the same levels it had at the beginning of the American session and 0.60% below today’s opening price. Earlier GBP/USD failed to hold above 1.6600 and weakened. The pair is falling after four days with gains.

Barack Obama spoke at Wall Street one year after the failure of Lehman Brothers. The president asked for “common sense rules” on financial markets. “Unfortunately, there are some in the financial industry who are misreading this moment. Instead of learning the lessons of Lehman and the crisis from which we are still recovering, they are choosing to ignore them”, Obama said.

GBP/USD

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