Forex: GBP/USD: Pound testing levels at 1.5100

Wednesday, May 6, 2009

The Pound has picked up strength and, after bouncing at 1.4990, the Pound is testing levels at 1.5100, taking back recovering part of the ground lost during U.S. and Asian session.

In case of successful move above 1.5100, nest resistance level comes at 1.5160 (May 5 high), and above here, 1.5190. On the downside, below 1.5100, support levels lie at 1.5065 (Apr 16 high), and below there, probably on the 1.4990/1.5000 area.

GBP/JPY has bounced at 146.95 support level to reach 148.90 level to pull back afterwards to levels around 148.20. Resistance levels lie at 148.90 and 149.90. Support levels lie at 147.80 and 147.30.

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