GBPUSD back down, but finding trendline support at 1.5959 and 100 hour MA at 1.5943.

Written October 1, 2009 at 11:39 AM EST by  

gregmike-05129

GBPUSD moved back down as stock fall is leading to a rebound in the dollar.  The pair has been able to remain above the trendline support which currently comes in at the 1.5959 level. The pair continues to consoldate the range.   Key hourly support at the 1.5943 level.  NY has held the MA today.  Look for buyers to remain against the level.

gregmike-05130

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