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Forex: GBP/USD returns to 1.6100

By FXstreet.com,  April 23, 2012, 09:43:00 AM EDT

FXstreet.com (Barcelona) - As the NY session opens, currency flows are pulling the GBP/USD back to 1.6100 area.
Ron Paul, candidate for US presidency, accused the Fed of being a "counterfeiter".

"The breach of key resistance at 1.5985/1.6063 signalled an important breakout and we look for 1.5985/1.6063 to hold for the next leg of the 1.5235 advance for 1.6167 (31st Oct high) and resistance at 1.6455/1.6500", wrote MIG Bank analyst Howard Friend.

Mataf.net analysts point to resistances at 1.6105, 1.6150 and 1.6160. On the downside, supports might act at 1.6080, 1.6040 and 1.6010.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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