If the pound runs into problems in the $1.62-$1.63 region, I’ll be selling short with a target of $1.609, says Matt Shaw at www.financialtrading.co.
I do not envisage the pound getting above the massive resistance level of $1.63 in the near term, but it should find a floor around that $1.609 target of mine. That level has provided decent support in the past, and there’s moving-average support just below.
