FXstreet.com (Barcelona) - GBP/USD has risen 0.45% so far today
from 1.6349 to test 1.6425 resistance level (EMA55 in hourly chart)
and post 1.6430 as fresh intra-day high in the Early European
morning. The pair has been trading in a small range between 1.6360
and 1.6390 during the Asian session to break up this range and
climbs 60 pips to trade above 1.6400 level. Currently the pair is
trading around 1.6410/20.Valeria Bednarik, FXstreet.com
collaborator, comments: "Downside pressure continues on Gbp, that
has formed kind of a triple floor in the hourly, around 1.6320,
level to watch to the downside: candle opening under that zone,
could trigger more selling in the pair, yet hourly indicators point
for an upside correction at the moment. A daily descendant trend
line around 1.6390 will be our first resistance level to watch,
followed by the 1.6435 zone, neck of the mentioned triple floor.
Above that level, pair should extend correction close to the 1.6500
zone."Bednarik provides us with her levels: "Support levels: 1.6320
1.6250 1.6200. Resistance levels: 1.6390 1.6420 1.6470."For more
information, read our latest forex news.
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