9 Jul 2013
GBP/USD stalls the recovery below 1.4950
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is currently trading at 1.4940, up +0.4% so far for the week, ahead of UK Manufacturing production and Trade balance both at the usual time 08:30 GMT.
GBP/USD might see more gains in the short term
“The GBP/USD maintains the short term positive tone with the hourly chart showing indicators still heading higher in positive territory,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the 4 hours chart technical indicators already corrected extreme oversold readings still standing in negative territory although heading higher, which suggests more gains could be seen in the short term.”
GBP/USD key technical levels
Bednarik finds support levels at: 1.4920, 1.4860 and 1.4830, while resistance levels at: 1.4960, 1.5000 and 1.5050.
GBP/USD might see more gains in the short term
“The GBP/USD maintains the short term positive tone with the hourly chart showing indicators still heading higher in positive territory,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the 4 hours chart technical indicators already corrected extreme oversold readings still standing in negative territory although heading higher, which suggests more gains could be seen in the short term.”
GBP/USD key technical levels
Bednarik finds support levels at: 1.4920, 1.4860 and 1.4830, while resistance levels at: 1.4960, 1.5000 and 1.5050.