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Sterling may test 100 hour M/A, again

Written November 10, 2009 at 2:32 AM EST by Vincent Facchino 

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Gbp/Usd appears to be on its way to test its 100 hour M/A of 1.6614. This would be the third time in consecutive hours, after Fitch’s negative comments on UK’s rating status, that the pair would try to break below this level. A break below can bring the pair down to 1.6550-55 area. If it holds look for a retracement back to 1.6700.

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