22 Jul 2013
GBP/USD held in check by 1.5346 resistance
FXstreet.com (New York) - The GBP/USD foreign exchange rate has gradually eased off its earlier highs Monday (1.5386), now stabilizing presently at the 1.5350 region.
In these moments, the GBP/USD is still clinging to robust gains of +0.53% during the latter stages of US trading, now navigating the area of 1.5351. Technically speaking, the pair is testing calculated resistance at 1.5346, a break of which will open up additional measures of correction at 1.5397, onto 1.5436, notes the Danske Research Team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD consolidated above 1.5290 triggering another bullish wave. Trading above the referred to level became positive especially that RSI traded positively above line 50. Despite that, the stochastic is showing overbought signals, stability above 1.5185 will cancel any negative signal.”
In these moments, the GBP/USD is still clinging to robust gains of +0.53% during the latter stages of US trading, now navigating the area of 1.5351. Technically speaking, the pair is testing calculated resistance at 1.5346, a break of which will open up additional measures of correction at 1.5397, onto 1.5436, notes the Danske Research Team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD consolidated above 1.5290 triggering another bullish wave. Trading above the referred to level became positive especially that RSI traded positively above line 50. Despite that, the stochastic is showing overbought signals, stability above 1.5185 will cancel any negative signal.”