Forex: GBP/USD: Pound continues to target 1.5690/10 - Commerzbank

Tue, Sep 29 2009, 08:05 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - The Pound has turned down from session high at 1.5955 and dropped about 100 pips on early European session to hit day lows at 1.5845, targeting levels around 1.5690/10, according to Karen Jones, technical analyst at Commerzbank.

Pound's rebounds will, most likely be corrective and capped by 1.6110/50, says Jones: "Yesterdays rebound filled the weekend gap (to 1.5920) and we look for near term corrective rebounds to main capped by 1.6110/50 (break down point for the top pattern) and we continue to target initially 1.5690/10 (Fibonacci retracement and the 55 week ma) and then 1.5270."

Support levels, according to Jones lie at 1.5800/0, and below there, 1.5770 and 1.5690. On the upside, resistance levels are 1.6000, 1.6045 and 1.6110/48.

DJ Currency Rates Of Coffee Producing, Consuming Countries

DJ Currency Rates Of Coffee Producing, Consuming Countries

                                  Current     Prior
Producers
Angola (Readj Kwanza)    AOA        77.805        78
Bolivia (Boliviano)      BOB          7.02      7.02
Brazil (Real)            BRL         1.791     1.791
Burundi (Franc)          BIF          1240      1241
Central African States   XAF         449.5     448.5
Central Bank of West AfriXOF         449.5     448.5
Colombia (Peso)          COP        1923.5    1917.6
Costa Rica (Colon)       CRC         582.7     582.7
Cuba (Peso)              CUP             1         1
Dominican Rep (Peso)     DOP          36.1      36.1
Ecuador (USD)            USD             1         1
El Salvador (Colon)      SVC        8.7475    8.7475
Ethiopia (Birr)          ETB         12.59     12.59
Guatemala (Quetzal)      GTQ        8.3065    8.3065
Guinea Rep (Franc)       GNF          5025      5020
Haiti (Gourde)           HTG         39.75     39.75
Honduras Rep (Lempira)   HNL        18.895    18.895
India (Rupee)            INR         48.07     47.87
Indonesia (Rupiah)       IDR          9715      9720
Kenya (Shilling)         KES         75.35     75.78
Malawi (Kwacha)          MWK      140.6057  140.6069
Mexico (Peso)            MXN       13.5575   13.5865
Nicaragua (Cordoba Oro)  NIO       19.9603    19.972
Papua New Guinea (Kina)  PGK       0.37375   0.37175
Peru (Nuevo Sol)         PEN          2.88      2.88
Philippines (Peso)       PHP          47.6     47.63
Venezuela (Bolivar)      VEB        2147.3    2147.3
Vietnam (Dong)           VND       17841.5     17842
Zambia (Kwacha)          ZMK          4740      4750
Zimbabwe (Dollar)        ZWD         364.6     362.7

Consumers
Denmark (Krone)          DKK        5.1059    5.0954
European Union (Euro)    EUR       1.45755   1.46065
Japan (Yen)              JPY         89.77    89.605
Norway (Krone)           NOK       5.84185    5.8595
Sweden (Krona)           SEK       7.02825    7.0285
Switzerland (Franc)      CHF        1.0363     1.034


* = The CFA Franc is the common currency of 14 African countries
which are members of the Franc zone:
XOF = Benin, Burkina, Ivory Coast, Guinea Bissau, Mali, Niger,
     Senegal and Togo under the Central Bank of the West African States.
XAF = Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea,
     and Gabon, under the Bank of the Central African States.


All currencies are quoted in units of currency per U.S. dollar.
Source: Thomson Reuters

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September 29, 2009 04:09 ET (08:09 GMT)