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6 Jun 2013
GBP/USD dealing around 1.54 ahead of BoE
FXstreet.com (Barcelona) - Cable is last at 1.5407, off session and fresh 4-week highs at 1.5416, right below April 11 highs, and 38.2% Fibo retrace of leg down 1.64/1.48. For the London session ahead, BoE will announce Official bank rate at 11:00 GMT.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows indicators turning flat in overbought territory, while 20 SMA heads higher, offering dynamic support around 1.5350 now,” the analyst says, adding: “In the 4 hours chart technical readings are also biased higher, with a break above 1.5415 area, immediate resistance, favoring an advance up to 1.5475 today, next Fibonacci level,” she concludes.
Valeria finds support levels at: 1.5370, 1.5330 and 1.52790, while resistance levels at: 1.5415, 1.5475 and 1.5520.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows indicators turning flat in overbought territory, while 20 SMA heads higher, offering dynamic support around 1.5350 now,” the analyst says, adding: “In the 4 hours chart technical readings are also biased higher, with a break above 1.5415 area, immediate resistance, favoring an advance up to 1.5475 today, next Fibonacci level,” she concludes.
Valeria finds support levels at: 1.5370, 1.5330 and 1.52790, while resistance levels at: 1.5415, 1.5475 and 1.5520.