11 Nov 2013
GBP/USD on trading range around the 1.5981 front
FXstreet.com (Chicago) - GBP/USD fell from 1.6024 session highs and was unable to recover the 1.60 front after giving it up. Down 0.23% for the day, the pair stalls on flat wave ahead of Wall Street’s closing.
Earlier in Europe, the FTSE 100 closed 0.33% stronger riding the positive wave triggered last Friday on NFP data and that spread throughout the world. In the US, markets were closed on Veterans day and no data was made public.
GBP/USD Technical Levels
Technically speaking, the pair is offered at 1.5978 and oscillates between the supports aligned at 1.5951 (November 5th lows), 1.5916 (November 1st lows) ahead of 1.5843 (September 18th lows) and the resistances set at 1.6018 (October 29th lows), 1.6117 (November 6th highs) followed by 1.62 (October 28th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and flows below the EMA20.
Earlier in Europe, the FTSE 100 closed 0.33% stronger riding the positive wave triggered last Friday on NFP data and that spread throughout the world. In the US, markets were closed on Veterans day and no data was made public.
GBP/USD Technical Levels
Technically speaking, the pair is offered at 1.5978 and oscillates between the supports aligned at 1.5951 (November 5th lows), 1.5916 (November 1st lows) ahead of 1.5843 (September 18th lows) and the resistances set at 1.6018 (October 29th lows), 1.6117 (November 6th highs) followed by 1.62 (October 28th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and flows below the EMA20.