21 Aug 2013
GBP/USD challenging 1.5700 ahead of FOMC
FXstreet.com (Córdoba) - The GBP/USD pushed through the 1.5700 level and managed to print yet another 2-month high at 1.5704 during the American afternoon.
GBP/USD peeps over 1.5700
However, GBP/USD lacked momentum to decisively break that level as investors seem reluctant to take big positions ahead of the FOMC minutes that will be published at 18:00GMT. At time of writing, GBP/USD is trading at the 1.5695 area, still up 0.2% on the day.
GBP/USD holds the positive tone
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com recently commented that indicators hold a positive tone in short-term charts, which supports the overall trend and keeps the downside limited.
Bednarik sees immediate resistances at 1.5700, 1.5740 and 1.5790, while she places next support levels at 1.5640, 1.5600 and 1.5570.
GBP/USD peeps over 1.5700
However, GBP/USD lacked momentum to decisively break that level as investors seem reluctant to take big positions ahead of the FOMC minutes that will be published at 18:00GMT. At time of writing, GBP/USD is trading at the 1.5695 area, still up 0.2% on the day.
GBP/USD holds the positive tone
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com recently commented that indicators hold a positive tone in short-term charts, which supports the overall trend and keeps the downside limited.
Bednarik sees immediate resistances at 1.5700, 1.5740 and 1.5790, while she places next support levels at 1.5640, 1.5600 and 1.5570.