24 Jun 2013
GBP/USD targeting to close gap
FXstreet.com (London) - GBP/USD is moving in on the gap that was reacted overnight when the dollar received a boost from higher US yields.
GBP/USD is trading at the high of the session, around 1.5410 66 pips higher than the session low of 1.5344. The spike higher has come shortly after the release of Chicago Fed National Activity Index (May) printing -0.30 vrs -0.52. previous. 1.5440 would fill the gap, but it is needing to break 1.5420 resistance first.
GBP/USD rallies will meet 1.5520 resistance
Karen Jones, analyst at Commerzbank, said that rallies should now find resistance at 1.5525/60 ahead of Thursday’s 1.5736 high and the 1.5782 61.8% retracement of this years move, 1.5788 the 200 week moving average is also located here and in all represent a tough band of resistance.
GBP/USD is trading at the high of the session, around 1.5410 66 pips higher than the session low of 1.5344. The spike higher has come shortly after the release of Chicago Fed National Activity Index (May) printing -0.30 vrs -0.52. previous. 1.5440 would fill the gap, but it is needing to break 1.5420 resistance first.
GBP/USD rallies will meet 1.5520 resistance
Karen Jones, analyst at Commerzbank, said that rallies should now find resistance at 1.5525/60 ahead of Thursday’s 1.5736 high and the 1.5782 61.8% retracement of this years move, 1.5788 the 200 week moving average is also located here and in all represent a tough band of resistance.