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12 Aug 2013
GBP/USD treading water above 1.5300
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last quoted at 1.5507, off recent session highs at 1.5523, pretty much unchanged from previous weekly close Friday, a +1.42% higher since past Monday's weekly open.
GBP/USD slightly negative in the short term
According to Valeria Bednarik, Chief Analyst at Fxstreet.com GBP/USD maintains “a slightly negative tone in the short term, as indicators head south below their midlines and price develops below its 20 SMA. In the 4 hours chart price stands above a bullish 20 SMA, currently around 1.5470 and immediate support, while indicators approach their midlines still in positive territory. Further recoveries above 1.5520 will likely favor a recovery towards past week high of 1.5570, as the overall sentiment remains bullish in the pair.”
GBP/USD key technical levels
Bednarik sees support levels at: 1.5470, 1.5420 and 1.5390, while resistance levels at: 1.5520, 1.5550 and 1.5600.
GBP/USD slightly negative in the short term
According to Valeria Bednarik, Chief Analyst at Fxstreet.com GBP/USD maintains “a slightly negative tone in the short term, as indicators head south below their midlines and price develops below its 20 SMA. In the 4 hours chart price stands above a bullish 20 SMA, currently around 1.5470 and immediate support, while indicators approach their midlines still in positive territory. Further recoveries above 1.5520 will likely favor a recovery towards past week high of 1.5570, as the overall sentiment remains bullish in the pair.”
GBP/USD key technical levels
Bednarik sees support levels at: 1.5470, 1.5420 and 1.5390, while resistance levels at: 1.5520, 1.5550 and 1.5600.