Resistance 3: $1.6350
Resistance 2: $1.6040
Resistance 1: $1.5920
Current price: $1.5510
Support 1: $1.5500
Support 2: $1.5260
Support 3: $1.5150
Comments:
The pound is corrected after a Friday collapse which has been caused on
speculation the Bank of England will lower interest rates to help avert
a prolonged recession. UK gross domestic product contracted 0.3 percent
in the three months through September.The nearest support is presented
by area of a session low on $1,5500. Overcoming of the given level will
open road to a Friday's low on $1,5260. Below are possible losses up to
$1,5150 (area of Jul 2002 low). Resistance is presented FIBO falling of
Friday $1,5920 (61,8 %). Above there is a chance of return to $1,6040
(area of a Thursday's low) and further to $1,6350 (area of a Thursday's
high)