24 Jun 2013
GBP/USD pares daily losses
FXstreet.com (New York) - The GBP/USD technical pair rallied higher after oscillating near the 1.5355 level during European trading.
GBP/USD bearish move remains valid
According to the ICN.com Technical Analyst Team, “The GBP/USD started this week with trading below 50% correction at 1.5380, as stabilizing below it might extend the downside move. Meanwhile, a price gap was formed which requires stability below 1.5470 for the bearish move to remain valid.”
At the time of writing, the GBP/USD foreign exchange rate has now bounced to 1.5375 Monday, incurring a marginal fall of -0.02%. Consistent with the calculations of the Mataf.net analyst team, pair will face supports at 1.5333 then 1.5268, and 1.5169. On the ascension, a break above the 1.5491 handle will initiate resistance at 1.5590 and 1.5652.
GBP/USD bearish move remains valid
According to the ICN.com Technical Analyst Team, “The GBP/USD started this week with trading below 50% correction at 1.5380, as stabilizing below it might extend the downside move. Meanwhile, a price gap was formed which requires stability below 1.5470 for the bearish move to remain valid.”
At the time of writing, the GBP/USD foreign exchange rate has now bounced to 1.5375 Monday, incurring a marginal fall of -0.02%. Consistent with the calculations of the Mataf.net analyst team, pair will face supports at 1.5333 then 1.5268, and 1.5169. On the ascension, a break above the 1.5491 handle will initiate resistance at 1.5590 and 1.5652.