GBPUSD moves below the 1.6443 trendline. Resistance at 1.6454 now. Support at 1.6419.

Written October 20, 2009 at 9:53 AM EST by  

gregmike-05313

The trendline off the August 5th high comes in a tthe 1.6443 level.  The price has just dipped back below this level . The next target for the pair comes in at the  the 1.6419 level which is the midpoint of the days range.  

A move above the 1.6454 level (old high for today) will muddy the water for the pair.  Look for sellers against this level now.

gregmike-05314

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