Fxstreet.com (Barcelona) - After capping its recovery from 1.6110 at 1.6180 in the early European session, The Sterling has been falling throughout the session against the Dollar to tests previous lows, break the 1.6110 support and hit intra-day minimum at 1.6105. Currently, the pair is trading around 1.6115/25, extending its fall from 55 hours moving average at 1.6180 and reaching 0.15% daily losses from opening price action at 1.6135. In the big chart, the GBP/USD is completing its seventh day in range between 1.6090 and 1.6260. GBP/USD supports between 1.61-1.60, says the Kshitij Consultancy Service Team, "The Cable continues to find Support at 1.61 for today. There are multi-layered Supports between 1.61-1.60 which is likely to hold for today." Says Kshitij and it continues, "It being the last trading day of the week, the pair may not opt to break below this Support region. 1.60 being a wedge Support on the weekly candles in which the pair has been oscillating over the last several weeks, may not be broken in a hurry. The Projected Max High and Low for the day is at 1.6260 and 1.6028 respectively." Gross domestic product in United States is expected to rise 0.3% between October and November 2010, more than 0.2% advance posted in the previous month. Preliminary annualized GDP is expected to rise 4.5% in the 4Q, well above 2.2% increases posted in the 3Q.

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