10 Jul 2013
GBP/USD finds buyers above 1.4850
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last quoted at 1.4875, just 2 pips below recent session highs, off session lows at 1.4845, and about flat for the week so far.
GBP/USD downside limited
“The short term charts are oversold and showing bullish divergence, so for the next few hours I would not be looking for too much on the downside,” said FX Charts analyst Jim Langlands, adding: “However further out, nothing has changed and if we can get below today’s session low, then we should expect a run towards 1.4782.”
GBP/USD key technical levels
Immediate resistance to the upside for GBP/USD shows at recent session highs 1.4877, followed by yesterday's Asian session lows at 1.4918, and yesterday's weekly highs at 1.4991. To the downside, closest support lies at Monday's/Friday's lows 1.4856, followed by recent session lows at 1.4843, and yesterday's fresh 3-year lows at 1.4812.
GBP/USD downside limited
“The short term charts are oversold and showing bullish divergence, so for the next few hours I would not be looking for too much on the downside,” said FX Charts analyst Jim Langlands, adding: “However further out, nothing has changed and if we can get below today’s session low, then we should expect a run towards 1.4782.”
GBP/USD key technical levels
Immediate resistance to the upside for GBP/USD shows at recent session highs 1.4877, followed by yesterday's Asian session lows at 1.4918, and yesterday's weekly highs at 1.4991. To the downside, closest support lies at Monday's/Friday's lows 1.4856, followed by recent session lows at 1.4843, and yesterday's fresh 3-year lows at 1.4812.