GBP/USD

[POSITION] LONG AT 1.6360 FOR A [1.6516] OBJECITVE, STOP AT (1.6310)

MOVING AVERAGES 20D 1.6154 50D 1.6149 90D 1.5940 200D 1.5791 L-TERM HIGH 2.4546 NOV80 L-TERM LOW 1.0300 FEB85 9 DAY RSI 64.35 (65.27) TRENDS MAJOR MINOR

RESISTANCE 1.6605 FAIR (04 Dec 09 intraday low) 1.6591 FAIR (04 Dec 09 intraday low) [1.6516] STRG (07 Dec 09 high) 1.6477 FAIR (08 Dec 09 high) 1.6459 STRG (2010 high - 19 Jan) 1.6354 (UPDATE PRICE) NY 08 Apr 19.08 GMT 1.6337 FAIR (07 Apr intraday high) (1.6310) FAIR (08 Apr low - 1.6316) 1.6298 FAIR (05 Apr prior high) 1.6280 FAIR (07 Apr intraday low) 1.6257 STRG (06/07 Apr lows - 1.6257/60) SUPPORT

Weakness should meet with dip buyers ahead of 1.6337/16 support. Below
however threatens a more substantial setback refocusing 1.6257 initially.
Above 1.6459/77 opens the way to 1.6516 next ahead of 1.6591/1.6605.