20 Aug 2013
GBP/USD advances but lacks momentum
FXstreet.com (Córdoba) - Even though the GBP/USD managed to print a fresh 2-month high during the European session, the pair remains stuck in a range and only advancing marginally on daily basis.
GBP/USD stretched to a high of 1.5679 as the US dollar faced some selling pressure against European currencies, but lacked follow through and settled below that level. At time of writing, GBP/USD is trading at the 1.5665 zone, where it records a 0.1% gain on Tuesday.
GBP/USD technical levels
In terms of technical levels, if GBP/USD breaks decisively above the 1.5680 area, next resistances are seen at 1.5700 (psychological level) and 1.5723 (Jun 18 high). On the other hand, supports could be found at 1.5625 (daily low) and 1.5608 (Aug 19 low).
GBP/USD stretched to a high of 1.5679 as the US dollar faced some selling pressure against European currencies, but lacked follow through and settled below that level. At time of writing, GBP/USD is trading at the 1.5665 zone, where it records a 0.1% gain on Tuesday.
GBP/USD technical levels
In terms of technical levels, if GBP/USD breaks decisively above the 1.5680 area, next resistances are seen at 1.5700 (psychological level) and 1.5723 (Jun 18 high). On the other hand, supports could be found at 1.5625 (daily low) and 1.5608 (Aug 19 low).