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10 Sep 2013
GBP/USD bulls incapable to outrun bears at 1.5744 limits
FXstreet.com (Chicago) - GBP/USD extended upward trendline to reach almost 3-month peaks at 1.5746 on formidable rally. The pair was capped after arriving to the 1.5740 zone and now struggles to maintain the 1.5730 front.
Light data, Syria, X date
The RICS Housing Price balance for August matched expectations at 40% in the UK. In the US, the main headlines are the potential peaceful conflict resolution if the US and other international countries accept apparent willingness from Syria to give up its chemical weapons. Back in the agenda, the X date is mentioned by the US congress as the country runs out of money and time to solve its credit spending issue.
GBP/USD Technical Levels
Price action reveals an inconclusive end to the pound’s rally against the greenback after hitting 1.5740 zone. The resistance matches June 14th peaks. Marking higher lows but failing to break above limits, the pair trades at 1.5731 and navigates between supports aligned at 1.5694 (August 20th highs), 1.5659 (August 15th highs) ahead of 1.56 (September 3rd highs) and resistances at 1.5739 (June 13th highs), 1.5775 (February 10th highs) followed by 1.5813 (February 12th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered above the EMA20.
Light data, Syria, X date
The RICS Housing Price balance for August matched expectations at 40% in the UK. In the US, the main headlines are the potential peaceful conflict resolution if the US and other international countries accept apparent willingness from Syria to give up its chemical weapons. Back in the agenda, the X date is mentioned by the US congress as the country runs out of money and time to solve its credit spending issue.
GBP/USD Technical Levels
Price action reveals an inconclusive end to the pound’s rally against the greenback after hitting 1.5740 zone. The resistance matches June 14th peaks. Marking higher lows but failing to break above limits, the pair trades at 1.5731 and navigates between supports aligned at 1.5694 (August 20th highs), 1.5659 (August 15th highs) ahead of 1.56 (September 3rd highs) and resistances at 1.5739 (June 13th highs), 1.5775 (February 10th highs) followed by 1.5813 (February 12th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered above the EMA20.