6 Jun 2013
GBP/USD trading at 1.5436/42 resistance ahead of BoE
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate has been sailing higher Thursday, ahead of the BoE Interest Rate decision later today during European trading.
At the time of writing, the technical pair is trading off its heights of 1.5442/49 (intraday high), up a marginal +0.22%. As the pair remains steadfastly positive, Mataf.net analysts calculate resistive measures for the GBP/USD at 1.5436, onto 1.5485, and ultimately 1.5557. On the pullback, a break below the 1.5315 handle will initiate supports at 1.5243 and 1.5194.
According to the Technical Analyst Team at ICN.com, “The GBP/USD pair moved to the upside as it stabilized above 1.5375 represented in 61.8% Fibonacci correction. The possibility of extending bullishness is valid in today’s session, as stability above 1.5375 might test 78.6% correction and perhaps 88.6% at 1.5480 and 1.5540 respectively. Linear Regression Indicator 34 is more positive; as for the technical classical analysis, stability above 61.8% correction favors extending intraday positivity today.”
At the time of writing, the technical pair is trading off its heights of 1.5442/49 (intraday high), up a marginal +0.22%. As the pair remains steadfastly positive, Mataf.net analysts calculate resistive measures for the GBP/USD at 1.5436, onto 1.5485, and ultimately 1.5557. On the pullback, a break below the 1.5315 handle will initiate supports at 1.5243 and 1.5194.
According to the Technical Analyst Team at ICN.com, “The GBP/USD pair moved to the upside as it stabilized above 1.5375 represented in 61.8% Fibonacci correction. The possibility of extending bullishness is valid in today’s session, as stability above 1.5375 might test 78.6% correction and perhaps 88.6% at 1.5480 and 1.5540 respectively. Linear Regression Indicator 34 is more positive; as for the technical classical analysis, stability above 61.8% correction favors extending intraday positivity today.”