Resistance 3: $1.5980
Resistance 2: $1.5800
Resistance 1: $1.5720
Current price: $1.5862
Support 1: $1.5540
Support 2: $1.5400
Support 3: $1.5260
Comments: The U.S. currency gave up some gains versus the British pound as
futures traders increased bets the Fed will cut borrowing costs by half
a percentage point to 0.5 percent compared with a benchmark rate of 3
percent in the U.K. A Labor Department report today may also show the
unemployment rate in the U.S. rose to a five-year high as the global
economic downturn deepened. Thursday pound fall against the dollar
afterBOE slashed its key rate by 1.5 percentage points to 3%.
Closest
support spotted at the session low $1.5535/40. A decisive break below
October 28 low $1.5400 puts October 24, 27 low at $1.5260/80 back in
focus. Resistance comes at $1.5720/30
(session high and 61.8%Fibo of the resent slide). Further up test of $1.5800 (50%) and
$1.5980/90 (resistance since October 20) is possible.