25 Jul 2013
GBP/USD stabilizes above 1.5300 level
FXstreet.com (New York) - The GBP/USD technical pair found itself capped at the 1.5322 region Thursday, culminating in a slight move lower, having stabilized above the 1.5300 level thus far.
Technically speaking, the GBP/USD is now operating at 1.5311, incurring marginal losses of -0.01% during US trading. The Mataf.net analyst team calculates short-term supports for the GBP/USD at 1.5269, ahead of 1.5229.
GBP/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “Previously, we considered that the GBP/USD was likely to fail at the 1.5393 (61.8% retracement) and this is now being seen. We have a TD perfected set up on the daily chart and a 13 count on the 240-minute chart. Attention reverts to the 1.5315 accelerated uptrend – a close below here is required to signal the resumption of downside pressure and re-target the 1.4854/32 support zone.”
Technically speaking, the GBP/USD is now operating at 1.5311, incurring marginal losses of -0.01% during US trading. The Mataf.net analyst team calculates short-term supports for the GBP/USD at 1.5269, ahead of 1.5229.
GBP/USD strategic bias
According to Karen Jones, an analyst at Commerzbank, “Previously, we considered that the GBP/USD was likely to fail at the 1.5393 (61.8% retracement) and this is now being seen. We have a TD perfected set up on the daily chart and a 13 count on the 240-minute chart. Attention reverts to the 1.5315 accelerated uptrend – a close below here is required to signal the resumption of downside pressure and re-target the 1.4854/32 support zone.”