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Pounds to Dollars 29 June 2010

pounds to dollars

Pounds to Dollars Chart 29 June 2010

The pounds to dollars pair continued to ease higher in yesterday’s trading session confirming once again the short term bullish sentiment for sterling as we move above the significant USD1.50 price region, closing well above all three short term moving averages as a result.  Of these the 9 day moving average is providing excellent support to this sustained rally and coupled with the 14 day moving average has now broken above the 40 day moving average.  The next price target for the pair remains the USD1.5211 price zone where we begin to run into some sustained resistance but provided momentum increases we should see this region breached with the pair continuing higher as a result and could possibly even break out to the topside clearing USD1.5523 in due course.  At this point we begin to run into resistance from the 200 day moving average which could cap any further gains for sterling.

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