ForexGen Announced " GBP/USD: Sterling testing resistance"

The Pound is testing resistance at 1.99, the Kshitij Consultancy Service Team, affirms: “Cable is now testing an important Resistance at 1.99 on the 4-hrly (21-SMA) and on the hourly chart (21-SMA). If it holds, a dip towards 1.9800-25 could be seen. Otherwise on a rise past 1.9900 we could see a test of 1.9970.” In case of success, the Kshitij Consultancy Service Team foresees: “Above that, 2.0014 is the Max High for the day.Supports are in the region of 1.9800-14, and 1.9760-75 below it. The Strongest Support is at 1.9720, which could possibly be tested on the day of the Interest rate decision.”

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