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British Pound Remains Defiant

By Sam Shenker,
28 June 2005 08:20 GMT
 Indicators signal failing trend with ADX (DMI) falling to 17.94. Stochastic is neutral on the daily chart at 59.68 while the (4HR) dealer chart Stochastic is above the overbought line at 84.78. RSI is neutral at 47.62 on the daily chart and is also neutral at 52.35 on the 4-hour chart. MACD is sloping upward toward the zero line on the daily chart and is treading flatly slightly above the zero line on the (4HR) chart. In case the cable longs fail to make a further advance, dollar traders should expect the cable to tumble below the 1.8000 figure.

 
Key levels

Level
Resistance
Details
1.8466
Major
38.2 Fib of the Apr-Jun USD rally
1.8403
Intermediate
June 17 daily high
1.8331
Minor
June 22 daily spike high
Level
Support
Details
1.8118
Minor
June 24 daily spike low
1.8074
Intermediate
June 1 daily spike low
1.8002
Major
2005 Low

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28 June 2005 08:20 GMT