International Trading

GBP/USD: Still weak

Tuesday, August 31, 2010 , Posted by Usman Ali Minhas at 8:00 AM

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Pound remains with this Tuesday, having failed to even trigger a bullish corrective movement. Still daily low around 1.5360 is holding, so unless a break lower, pair seems aiming for an upside corrective movement: above 1.5430, pair should accelerate towards 1.5470 first, and 1.5520 later if trend manages to hold.

Under daily low, downside will be exposed again with next support and probable target, around 1.5310/20 support zone.

View Live Chart for the GBP/USD (Select the currency)

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