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16 Dec 2013
GBP/USD, 1.63 in jeopardy?
FXstreet.com (Chicago) - GBP/USD maintains the 1.63 zone after a failed attempt to break through the immediate results fueled by mixed US economic results published later today.
Data, performance
The mixed economic results in the US favored to the pound that continues printing higher highs and lows compared to earlier performances. Despite the extension of the bearish channel from the 1.6465 yearly highs, the downward trendline seems to have broken earlier today on attempt to recover losses.
GBP/USD Technical Levels
Price action reveals the pair trades close to the edge of the 1.63 zone erasing earlier gains that led to 1.6351 session highs. Offered at 1.6302, the pair navigates between the supports aligned at 1.6288 (December 6th lows), 1.6237 (November 24th highs) ahead of 1.6192 (November 27th lows) and the resistances set at 1.6348 (December 11th lows), 1.6418 (December 12th highs) followed by 1.6465 (December 9th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and presents a neutral EMA20.
Data, performance
The mixed economic results in the US favored to the pound that continues printing higher highs and lows compared to earlier performances. Despite the extension of the bearish channel from the 1.6465 yearly highs, the downward trendline seems to have broken earlier today on attempt to recover losses.
GBP/USD Technical Levels
Price action reveals the pair trades close to the edge of the 1.63 zone erasing earlier gains that led to 1.6351 session highs. Offered at 1.6302, the pair navigates between the supports aligned at 1.6288 (December 6th lows), 1.6237 (November 24th highs) ahead of 1.6192 (November 27th lows) and the resistances set at 1.6348 (December 11th lows), 1.6418 (December 12th highs) followed by 1.6465 (December 9th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and presents a neutral EMA20.