Back
16 Apr 2013
Forex: GBP/USD moves toward 1.5400
FXstreet.com (Córdoba) - In a spike of risk appetite combined with the trigger of stops, the Cable broke its daily range to the upside and reached fresh daily highs during the American session.
GBP/USD gained over 70 pips within the last hours and hit a high of 1.5378 in recent dealings while stocks extend their bounce in Wall Street. At time of writing, GBP/USD is trading around 1.5370/75, where it records a 0.6% rise after 2 days of falls.
In terms of technical levels, next resistances could be found at 1.5386 (Apr 5 high) followed by 1.5400 (psychological level) and the 1.5410 area (Apr 11/12 highs). On the other hand, supports are seen at 1.5310 (200-hour SMA), 1.5273 (Apr 15 low) and 1.5250 (Apr 9 low).
GBP/USD gained over 70 pips within the last hours and hit a high of 1.5378 in recent dealings while stocks extend their bounce in Wall Street. At time of writing, GBP/USD is trading around 1.5370/75, where it records a 0.6% rise after 2 days of falls.
In terms of technical levels, next resistances could be found at 1.5386 (Apr 5 high) followed by 1.5400 (psychological level) and the 1.5410 area (Apr 11/12 highs). On the other hand, supports are seen at 1.5310 (200-hour SMA), 1.5273 (Apr 15 low) and 1.5250 (Apr 9 low).