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11 Sep 2013
GBP/USD climbs back above 1.5800
FXstreet.com (Córdoba) - Following a short-lived correction, the GBP/USD rose back above the 1.5800 area at the beginning of the NY session, although it lacked momentum to reach its 7-month peak scored earlier at 1.5825.
GBP/USD regains 1.5800
As the USD weakens across the board, GBP/USD managed to resume the advance, climbing to 1.5809 before losing momentum. Nevertheless, GBP/USD remains among the best performers, as the Sterling was propelled by stronger-than-expected UK employment figures. At time of writing, GBP/USD is trading at the 1.5795/1.5800 zone, where it records a 0.4% gain Wednesday.
GBP/USD: dips should attract buyers
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that short-term indicators support an upward continuation. “In the 4 hours chart technical readings look slightly exhausted in overbought territory, yet dips should remain limited and continue to attract buyers”.
Bednarik locates immediate support levels at 1.5750, 1.5710 and 1.5670, while she sees next resistances at 1.5830 and 1.5860.
GBP/USD regains 1.5800
As the USD weakens across the board, GBP/USD managed to resume the advance, climbing to 1.5809 before losing momentum. Nevertheless, GBP/USD remains among the best performers, as the Sterling was propelled by stronger-than-expected UK employment figures. At time of writing, GBP/USD is trading at the 1.5795/1.5800 zone, where it records a 0.4% gain Wednesday.
GBP/USD: dips should attract buyers
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that short-term indicators support an upward continuation. “In the 4 hours chart technical readings look slightly exhausted in overbought territory, yet dips should remain limited and continue to attract buyers”.
Bednarik locates immediate support levels at 1.5750, 1.5710 and 1.5670, while she sees next resistances at 1.5830 and 1.5860.