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8 Jul 2013
GBP/USD sideways trading
FXstreet.com (New York) - The GBP/USD foreign exchange rate has been behaving statically Monday morning during the Asian session, still situated below the 1.4900 level.
GBP/USD unable to break out of static range
At the time of writing, the GBP/USD is trading at 1.4877, trading sideways and notching a tepid advance of +0.02%. According to Valeria Bednarik, an analyst at FXstreet.com, the pair will face resistances at 1.4910 then 1.4950. Conversely, the GBP/USD faces support at 1.4860, ahead of 1.4830.
GBP/USD facing key support at 1.4830
“The 20-SMA presents a strong bearish slope above current price for the GBP/USD. In the 4-hours chart technical readings presents a strong bearish momentum, which supports the shorter-term view. A key support is located at 1.4830 (yearly low) posted past March, and if below, the pair has scope to test 1.4220 area (May 2010 low).” Bednarik adds.
GBP/USD unable to break out of static range
At the time of writing, the GBP/USD is trading at 1.4877, trading sideways and notching a tepid advance of +0.02%. According to Valeria Bednarik, an analyst at FXstreet.com, the pair will face resistances at 1.4910 then 1.4950. Conversely, the GBP/USD faces support at 1.4860, ahead of 1.4830.
GBP/USD facing key support at 1.4830
“The 20-SMA presents a strong bearish slope above current price for the GBP/USD. In the 4-hours chart technical readings presents a strong bearish momentum, which supports the shorter-term view. A key support is located at 1.4830 (yearly low) posted past March, and if below, the pair has scope to test 1.4220 area (May 2010 low).” Bednarik adds.