5 Jan 2015
GBP/USD extends recovery above 1.5250
FXStreet (San Francisco) - After maintaining the 1.5200 level, GBP/USD is recovering ground and is now trading above 1.5250.
Currently, GBP/USD is trading at 1.5255, down -0.50% on the day, having posted a daily high at 1.5336 and low at 1.5178. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
GBP/USD sentiment
According to FXStreet chief analyst Valeria Bednarik, "the GBP/USD pair reached then a long term ascendant trend line coming from 1.3501 at 1.5200, bouncing some 50 pips from the level, but maintaining the overall bearish tone in the short term."
If the pair consolidates recovery above 1.5250, it will find next resistances at 1.5300 and 1.5320. To the downside, supports are at 1.5220, 1.5200 and 1.5180.
Currently, GBP/USD is trading at 1.5255, down -0.50% on the day, having posted a daily high at 1.5336 and low at 1.5178. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
GBP/USD sentiment
According to FXStreet chief analyst Valeria Bednarik, "the GBP/USD pair reached then a long term ascendant trend line coming from 1.3501 at 1.5200, bouncing some 50 pips from the level, but maintaining the overall bearish tone in the short term."
If the pair consolidates recovery above 1.5250, it will find next resistances at 1.5300 and 1.5320. To the downside, supports are at 1.5220, 1.5200 and 1.5180.