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2 Aug 2013
GBP/USD is not giving up
FXstreet.com (Chicago) - GBP/USD retraced from 1.5300 intraday highs on short-lived fall.
Price action indicated pair attempted to break above 1.5300 key psychological resistance. Nonetheless, its speed of advance was curtailed by strong ceiling above 1.5290 regions despite upward trending. Topping winners among major crosses, the sterling accumulated 1.11% in gains as journey continued to progress.
Trading at 1.5285, the price oscillated between supports at 1.5104 (low Aug.2), 1.5080 (low Jul.17) and 1.5051 (50% of 1.5435-1.4814) and following resistances at 1.5353 (high Jul.30) and finally 1.5416 (high Jul.26).
The FXstreet.com technical studies indicated pair was slightly bullish as it traded above EMAs at 20 and 50 days along a MACD that pointed up.
Price action indicated pair attempted to break above 1.5300 key psychological resistance. Nonetheless, its speed of advance was curtailed by strong ceiling above 1.5290 regions despite upward trending. Topping winners among major crosses, the sterling accumulated 1.11% in gains as journey continued to progress.
Trading at 1.5285, the price oscillated between supports at 1.5104 (low Aug.2), 1.5080 (low Jul.17) and 1.5051 (50% of 1.5435-1.4814) and following resistances at 1.5353 (high Jul.30) and finally 1.5416 (high Jul.26).
The FXstreet.com technical studies indicated pair was slightly bullish as it traded above EMAs at 20 and 50 days along a MACD that pointed up.