Supporting the Sterling

The Pound Dollar has had a bearish morning mainly due to news out from Bradford and Bingley. From the chart the pair has support from the figure, previous low and trend line.

The trend is down but the support may stop that. A breakdown could be further weakness and a bounce up would be further range bound activity. Use ESLT to identify entry either way. Until then we have put this on our watch list.


Chart courtesy of Advanced GET. Data provided by eSignal.

Forex Analysts
Anne Chapman & Javid Shaik