Posted by: Babu Suresh | November 28, 2009

GBPUSD-281109

Hello Friends,

GBPUSD-281109So, the Thanks Giving week ended for a change with a new problem from a relatively unexpected region, which went unnoticed for all these months.

Nevertheless, so far there has not been any bad news for American banks. The real good development is, the confusion has created sufficient cushioning for Pound which made a great come back with my last support, mentioned in previous post made on 22nd instant.

GBPUSD-1-281109Technically, 1.6750 has been posing a major resistance and the whole rise from 1.66 to 1.67 was without any credible strength, that had further triggered a major correction. Although the recovery was quite steep, I would exercise caution on the long side as I expect coming week some more downside.

My Probable Supports: 1.6442, 1.6340, 1.6241; Resistances: 1.6565, 1.6625, 1.6681

Healthy And Wealthy Trading

Healthy And Wealthy Weekend

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