Forex: GBP/USD tests 1.6170 level again
Tue, Jun 9 2009, 11:36 GMT
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FXstreet.com (Barcelona) - After rejecting from 1.6180 in a first attempt to post levels close to 1.6200 and falling 100 pips to 1.6080, Cable has rebounded from this level to trade above 1.6150 level and test the 1.6170. Currently the pair is trading around 1.6160/70, 0.50% above today's opening price action.
The Swiss e Trade Strategy Team expects recovery moves of the major currencies against the USD: "Cable recovered further in early European trading, currently priced at 1.6115, with resistance around the 1.6200 handle level. We do not expect much more upside potential for today, rather a sideways market between the 1.6200 / 1.6100 marks."

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