10 Jul 2013
GBP/USD keeps pushing higher
FXstreet.com (Barcelona) - The sterling is almost a big-figure up since session lows in the boundaries of 1.4840, inching higher in a context dominated by the risk-on trade.
GBP/USD remains vulnerable
After bottoming at 3-year lows around 1.4815, the pound has well managed to not only retake the key resistance at 1.4900 but also to print session peaks in the vicinity of 1.4950. Next on tap will be the release of the FOMC minutes, followed by a key speech by Chief Bernanke, keeping the pair under pressure and putting the recent correction higher to the test. In the near-term, Strategist Camilla Sutton at Scotiabank remains bearish on the pair, “with all signals in sell territory and no warning signs”.
GBP/USD levels to consider
The pair keeps alive its march north, advancing firmly 0.48% at 1.4939 and a break above 1.4892 (high Jul.9) would clear the way to the psychological mark at 1.5000 and finally 1.5036 (23.6% of 1.4814-1.5753). On the downside, support levels line up at 1.4845 (low Jul.10) followed by 1.4814 (2013 low Jul.9) and then 1.4803 (low Jun.23 2010).
GBP/USD remains vulnerable
After bottoming at 3-year lows around 1.4815, the pound has well managed to not only retake the key resistance at 1.4900 but also to print session peaks in the vicinity of 1.4950. Next on tap will be the release of the FOMC minutes, followed by a key speech by Chief Bernanke, keeping the pair under pressure and putting the recent correction higher to the test. In the near-term, Strategist Camilla Sutton at Scotiabank remains bearish on the pair, “with all signals in sell territory and no warning signs”.
GBP/USD levels to consider
The pair keeps alive its march north, advancing firmly 0.48% at 1.4939 and a break above 1.4892 (high Jul.9) would clear the way to the psychological mark at 1.5000 and finally 1.5036 (23.6% of 1.4814-1.5753). On the downside, support levels line up at 1.4845 (low Jul.10) followed by 1.4814 (2013 low Jul.9) and then 1.4803 (low Jun.23 2010).