19 Jul 2013
GBP/USD surge capped below 1.5250
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last trading at 1.5238, off recent session highs at 1.5249, once it has bounced from session lows at 1.5195 on the back of massive broad USD weakness ahead of UK Public sector net borrowing at 08:30 GMT.
GBP/USD stand in positive territory
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, previous daily high Thursday at 1.5241 “stands for the 200 EMA in the 4 hours chart, which usually acts as strong dynamic resistance/support level, and it has not been an exception Thursday. Still with price holding nearby the upward potential increases on a break of the level, exposing the 1.5300/10 price zone. Technical readings in the 1 hour and the 4 hours charts stand in positive territory.”
GBP/USD key technical levels
Bednarik points to support levels at: 1.5190, 1.5155 and 1.5120, while resistance levels at: 1.5180, 1.5130 and 1.5090.
GBP/USD stand in positive territory
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, previous daily high Thursday at 1.5241 “stands for the 200 EMA in the 4 hours chart, which usually acts as strong dynamic resistance/support level, and it has not been an exception Thursday. Still with price holding nearby the upward potential increases on a break of the level, exposing the 1.5300/10 price zone. Technical readings in the 1 hour and the 4 hours charts stand in positive territory.”
GBP/USD key technical levels
Bednarik points to support levels at: 1.5190, 1.5155 and 1.5120, while resistance levels at: 1.5180, 1.5130 and 1.5090.