Resistance 3: $1.8000
Resistance 2: $1.7650
Resistance 1: $1.7560
Current price: $1.7461
Support 1: $1.7710
Support 2: $1.7340
Support 3: $1.7300
Comments: The descending trend remains in force as UK consumer confidence fell to a record low in September, according
to the Nationwide Consumer Confidence Index. Besides, the UK GDP fell by
0.2% in the three months to September, according
to the latest estimates from the National Institute of Economic and
Social Research. The institute said that the Bank of England should cut Bank Rate by
50bp at its policy meeting on Thursday but added that this would
probably not do much good in the short run.
Firm
breach of $1.7410 to confirm downside bias and to open the way down to
the area of a Monday's low on $1,7340. Below possible falling to
$1,7300.
Resistance is noted on hourly highs at $1.7560. Stronger one at $1,7650 (the Tuesday's session high, and also a level of
23.6 % FIBO of falling $1,8670-$ 1,7330), further up lies
$1,7850 (32,8 %). Above the purpose of growth can become $1,8000 (50,0
%).