6 Nov 2013
GBP/USD consolidates around 1.6080
FXstreet.com (San Francisco) - After peaking at 1.6117 in the European session, the GBP/USD has been trading in consolidation mode in between 1.6070 and 1.6110 in the American journey. Currently the Cable is trading at 1.6080.
The cable is performing 0.25% positive on the day; however the short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. CCI and Momentum are pointing to the south while the stochastic and the MACD are neutral.
GBP/USD levels to watch
In terms of technical levels, if GBP/USD manages to regain 1.6100 next resistances are seen at 1.6117 (daily high) and 1.6139 (Oct 29 high). On the flip side, supports are now seen at 1.6040 (daily low) and 1.6020 (Nov 5 intraday low) ahead of 1.6000 (psychological level).
The cable is performing 0.25% positive on the day; however the short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. CCI and Momentum are pointing to the south while the stochastic and the MACD are neutral.
GBP/USD levels to watch
In terms of technical levels, if GBP/USD manages to regain 1.6100 next resistances are seen at 1.6117 (daily high) and 1.6139 (Oct 29 high). On the flip side, supports are now seen at 1.6040 (daily low) and 1.6020 (Nov 5 intraday low) ahead of 1.6000 (psychological level).