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15 Jul 2013
GBP/USD treading water above 1.5100
FXstreet.com (Barcelona) - The GBPUSD foreign exchange rate is currently quoted at 1.5121 bids, off early session highs at 1.5140, slightly in the positive from previous weekly close Friday, ahead of US retail sales data at 12:20 GMT.
GBP/USD bearish movement corrective
“The GBP/USD steadies around past Friday close, right above the 1.5100 level, still unable to catch upward momentum, with the hourly chart showing 20 SMA capping the upside around 1.5120, and indicators flat below their midlines,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The bigger picture shows price above a bullish 20 SMA currently around 1.5050, and indicators turning lower well above their midlines, which suggests bearish movement will remain corrective, at least as long as price stands above mentioned 1.5050.”
GBP/USD key technical levels
Bednarik sees support levels at: 1.5050, 1.5020 and 1.4970, while resistance levels at: 1.5120, 1.5145 and 1.5190.
GBP/USD bearish movement corrective
“The GBP/USD steadies around past Friday close, right above the 1.5100 level, still unable to catch upward momentum, with the hourly chart showing 20 SMA capping the upside around 1.5120, and indicators flat below their midlines,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The bigger picture shows price above a bullish 20 SMA currently around 1.5050, and indicators turning lower well above their midlines, which suggests bearish movement will remain corrective, at least as long as price stands above mentioned 1.5050.”
GBP/USD key technical levels
Bednarik sees support levels at: 1.5050, 1.5020 and 1.4970, while resistance levels at: 1.5120, 1.5145 and 1.5190.