GBP/USD intraday: the downside prevails.

Date: 2011/03/24
Time: 00:42 (GMT +1)
Ticker: GBP
Last: 1.625
Pivot: 1.63
1st sup. 1.62
2nd sup. 1.6145
3rd sup. 1.61
1st res. 1.63
2nd res. 1.635
3rd res. 1.64
Title: GBP/USD intraday: the downside prevails.
Summary: Update on supports and resistances.
Story: Pivot: 1.63

Our preference: Short positions below 1.63 with targets @ 1.62 & 1.6145 in extension.

Alternative scenario: Above 1.63 look for further upside with 1.635 & 1.64 as targets.

Comment: the RSI lacks upward momentum.

Key levels
1.64
1.635
1.63
1.625 last
1.62
1.6145
1.61