Mon 9 Oct 2006
The pair GBP/USD continue its 2 weeks trend, inspite of several last weeks announcements.
Last Thursday the Bank of England did not changed key interest rates in England. Becasuse of market expected interest rates to be risen after announcement price of the pair GBP/USD went down and was oversold. On the next day British pound has been ready to rise again.
Generally, the pair GBP/USD is loosing its power and getting closer to lower value of the trend 1,86. Crossing this level would mean further declining for British currency.
Supportive levels for the pair GBP/USD are 1.86, 1.84 and 1.83
Resistance levels are 1.88, 1.89, 1.90