10 Jul 2013
GBP/USD jumps to session highs
FXstreet.com (New York) - The GBP/USD technical pair is sailing higher during US trading, establishing fresh highs in these moments.
GBP/USD strategic bias
In these moments, the GBP/USD has surged to session highs ahead of the FOMC, trading now at 1.4938, up +0.45% Wednesday. According to Research Analyst Gareth Berry at UBS, “The GBP/USD tested the key support 1.4832. A closing break below this would be negative, opening 1.4646 – resistance is at 1.4981, still suggesting a bearish outlook near-term.”
In addition, “Despite the upside move the GBP/USD is witnessing, we count on stabilizing below 1.4940 represented in 88.6% correction. Ultimately, we believe that trading below the referred to level is negative and Linear Regression Indicators support these expectations.”
GBP/USD strategic bias
In these moments, the GBP/USD has surged to session highs ahead of the FOMC, trading now at 1.4938, up +0.45% Wednesday. According to Research Analyst Gareth Berry at UBS, “The GBP/USD tested the key support 1.4832. A closing break below this would be negative, opening 1.4646 – resistance is at 1.4981, still suggesting a bearish outlook near-term.”
In addition, “Despite the upside move the GBP/USD is witnessing, we count on stabilizing below 1.4940 represented in 88.6% correction. Ultimately, we believe that trading below the referred to level is negative and Linear Regression Indicators support these expectations.”