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19 Nov 2014
GBP/USD tests 1.5660 after failing above 1.5700
FXStreet (San Francisco) - The pound trades slightly negative against the US dollar after failing to maintain prices above the 1.5700. Currently, GBP/USD is trading at 1.5673, still 0.28% positive on the day, having posted a daily high at 1.5723 and low at 1.5590.
GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
According to FXStreet chief analyst Valeria Bednarik, "the pair seems to be developing a double bottom daily basis [1.5580], albeit the neckline of the figure stands at 1.5740, November 17th high, which means further gains above it are required to confirm it."
As for the short term, if the pair extends rejection below 1.5660, it will find next supports at 1.5645 and 1.5580. To the upside, 1.5720, 1.5740 and 1.5750 are resistances.
GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
According to FXStreet chief analyst Valeria Bednarik, "the pair seems to be developing a double bottom daily basis [1.5580], albeit the neckline of the figure stands at 1.5740, November 17th high, which means further gains above it are required to confirm it."
As for the short term, if the pair extends rejection below 1.5660, it will find next supports at 1.5645 and 1.5580. To the upside, 1.5720, 1.5740 and 1.5750 are resistances.