23 Oct 2013
GBP/USD's recovery stops at 1.6180, now at 1.6170
FXstreet.com (San Francisco) - After bouncing at 1.6120, the Sterling attempted a recovery against the US Dollar with the pair trading around 1.6180 where the pair found resistance.
Early in the day, the GBP/USD failed to break above the 1.6260 area, where the pair set a 10-month peak early October, which combined with the risk-off sentiment put the pair under pressure and trading at 1.6120 in the European session.
Currently the GBP/USD is trading at 1.6170, still 0.40% negative in the day. However, the short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the north while the MACD is bearish and the Stochastic is neutral.
Above the 1.6180, next resistances are at 1.6200, 1.6250 and 1.6260. On the downside, supports are at 1.6140, 1.6120 and 1.6100.
Early in the day, the GBP/USD failed to break above the 1.6260 area, where the pair set a 10-month peak early October, which combined with the risk-off sentiment put the pair under pressure and trading at 1.6120 in the European session.
Currently the GBP/USD is trading at 1.6170, still 0.40% negative in the day. However, the short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the north while the MACD is bearish and the Stochastic is neutral.
Above the 1.6180, next resistances are at 1.6200, 1.6250 and 1.6260. On the downside, supports are at 1.6140, 1.6120 and 1.6100.