A break above that key level opens the door for a test of 50% fibo resistance from 1.8501-1.7042 at 1.7773. Intraday oscillators have been helpful lately given the persistence of the recent range. Hourly RSI sloping down from overbought levels and MACD creeping towards the 0 line point to a possible return to today’s low at 1.7480 with further weakness exposing the 50% fibo of 1.7248-1.7616 at 1.7433.
British Pound Maintains Ground
Thu Apr 06 11:11:00 GMT 2006
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