13 Jan 2015
GBP/USD break-even for the day
FXStreet (Córdoba) - After shrugging off UK inflation figures and taking back daily losses, GBP/USD entered a quieter phase that has extended over the last hours.
GBP/USD bounced off levels sub-1.5100 and recovered a full cent before settling in a range around its opening price. At time of writing, Cable is trading at 1.5170, effectively unchanged on the day.
GBP/USD technical outlook
“Short term, the pair presents a quite neutral technical stance, with the price hovering around a flat 20 SMA and indicators around their midlines”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart momentum turns lower but remains above 100, while the price stands above a mild bullish 20 SMA all of which limits the downside, at least in the short term”.
Bednarik locates next resistance levels at 1.5190, 1.5220 and 1.5275, while she sees supports at 1.5135, 1.5100 and 1.5060.
GBP/USD bounced off levels sub-1.5100 and recovered a full cent before settling in a range around its opening price. At time of writing, Cable is trading at 1.5170, effectively unchanged on the day.
GBP/USD technical outlook
“Short term, the pair presents a quite neutral technical stance, with the price hovering around a flat 20 SMA and indicators around their midlines”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart momentum turns lower but remains above 100, while the price stands above a mild bullish 20 SMA all of which limits the downside, at least in the short term”.
Bednarik locates next resistance levels at 1.5190, 1.5220 and 1.5275, while she sees supports at 1.5135, 1.5100 and 1.5060.