28 Oct 2013
GBP/USD bounces at the 1.6120 again; back to 1.6160
FXstreet.com (San Francisco) - After falling around 80 pips from 1.6205 in the American morning, the Sterling finally found support against the US Dollar at the 1.6115/25 area again as it did in October 22 and 23.
Currently the GBP/USD is trading back at 1.6160 and as FXstreet.com chief analyst Valeria Bednarik said in a recent report: the GBP/USD is keeping its bullish note as far as the pair holds above the 1.6120. Almost flat on the day, the Cable remains strongly bearish according to the FXstreet.com trend index in the 1-hour chart.
GBP/USD technicals
Indicators such as MACD, CCI and the Momentum are pointing to the south while the Stockastic is bullish in the 1-hour timeframe too. The GBP/USD could find immediate supports at 1.6115 (Oct 22 low) and 1.6100 (psychological level), while resistances are seen at 1.6207 (daily high), 1.6246 (Oct 25 high) and 1.6256 (Oct 23 high).
Currently the GBP/USD is trading back at 1.6160 and as FXstreet.com chief analyst Valeria Bednarik said in a recent report: the GBP/USD is keeping its bullish note as far as the pair holds above the 1.6120. Almost flat on the day, the Cable remains strongly bearish according to the FXstreet.com trend index in the 1-hour chart.
GBP/USD technicals
Indicators such as MACD, CCI and the Momentum are pointing to the south while the Stockastic is bullish in the 1-hour timeframe too. The GBP/USD could find immediate supports at 1.6115 (Oct 22 low) and 1.6100 (psychological level), while resistances are seen at 1.6207 (daily high), 1.6246 (Oct 25 high) and 1.6256 (Oct 23 high).