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13 Jun 2013
GBP/USD resting below 1.57 figure
FXstreet.com (Barcelona) - Cable is last trading at 1.5685 off double high at 1.57 figure printed both by mid NY trade and early Tokyo session. Mentioned double 1.57 high is highest level the pair has seen since early February.
As Valeria Bednarik notes, Chief Analyst at Fxstreet.com, GBP/USD “has been finding support around its 20 SMA, currently around 1.5660,” in the hourly chart, “while in the 4 hours chart momentum continues heading north and RSI standing flat around 70, which in no means suggest the rally is done.”
“Corrective movements down to 1.5550 should attract buyers, while 1.5770 remains as next strong resistance area to test over the upcoming sessions,” Bednarick said. The analyst finds support levels at: 1.5660, 1.5610 and 1.5550, while resistance levels at: 1.5690, 1.5730 and 1.5770.
As Valeria Bednarik notes, Chief Analyst at Fxstreet.com, GBP/USD “has been finding support around its 20 SMA, currently around 1.5660,” in the hourly chart, “while in the 4 hours chart momentum continues heading north and RSI standing flat around 70, which in no means suggest the rally is done.”
“Corrective movements down to 1.5550 should attract buyers, while 1.5770 remains as next strong resistance area to test over the upcoming sessions,” Bednarick said. The analyst finds support levels at: 1.5660, 1.5610 and 1.5550, while resistance levels at: 1.5690, 1.5730 and 1.5770.