31 Jul 2013
GBP/USD rebuffed by 1.5200 level after FOMC
FXstreet.com (New York) - The GBP/USD foreign exchange rate pared a portion of its losses and moved back towards the key 1.5200 barrier during US trading Wednesday, receiving a welcome boost from the recent FOMC monetary policy statement.
In the United States, the highly anticipated FOMC interest rate decision came in at +0.25%, matching widespread expectations.
At the time of writing, the GBP/USD is now settling at 1.5186, and despite the recent jump today, still clings to a loss of -0.39% off its opening. Technically speaking, the pair’s fall will retest supports at 1.5185, ahead of 1.5139 and 1.5054, calculates the Mataf.net analyst team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD is attempting to break the main ascending support and yet we find the pair stable above 38.2% correction at 1.5170. At the same time, the pair is stable between Linear Regression Indicator 34 and 55 and RSI is attempting to break the 50 while the stochastic entered oversold areas and due to the conflicting signals we will remain neutral for now.”
In the United States, the highly anticipated FOMC interest rate decision came in at +0.25%, matching widespread expectations.
At the time of writing, the GBP/USD is now settling at 1.5186, and despite the recent jump today, still clings to a loss of -0.39% off its opening. Technically speaking, the pair’s fall will retest supports at 1.5185, ahead of 1.5139 and 1.5054, calculates the Mataf.net analyst team.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD is attempting to break the main ascending support and yet we find the pair stable above 38.2% correction at 1.5170. At the same time, the pair is stable between Linear Regression Indicator 34 and 55 and RSI is attempting to break the 50 while the stochastic entered oversold areas and due to the conflicting signals we will remain neutral for now.”