Forex: GBP/USD: Retreat from 1.6600 extends below 1.6500

Thu, Nov 5 2009, 07:36 GMT
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FXstreet.com (Barcelona) - The Pound's recovery from 1.6260 low on Tuesday extended on post-Fed rally to test resistance at 1.6600, which failed to give way, and the pair pulled down during Asian session reaching levels around 1.6465 at the moment of writing.

Ther Pound lies now above Monday's high at 1.6475, and below here, next support levels could lie at 1.6400 (Nov 4 low) and 1.6350/60. On the upside, resistance levels lie at 1.6600 (Oct 29/Nov 4 high), and above here, 1.6640 (Oct 21 and 22 high) and 1.6695 (Oct 23 high).

GBP/JPY bounced on Tuesday at 146.40 low, and the pair rallied to 151.35 high after the Fed's release to pulldown during Asian session, reaching levels below 149.00 at the moment of writing. Support levels lie at 148.9 and 147.77 Resistance levels are 150.65 and 151.35.

GBP/USD

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