11 Jul 2013
GBP/USD advancing beyond 1.5100
FXstreet.com (Edinburgh) -The pound managed to retake 1.5100 the figure on Thursday, recovering ground after dipping to the 1.5050 region during the European morning.
GBP/USD remains bearish
Despite yesterday’s violent up-move, the prospects for the sterling look still grim, as the economic conditions in the UK remains fragile in combination with the likeliness of the BoE adopting forward guidance in the near to medium term horizon. In the opinion of analysts at RBS, “For the longer term outlook this stays negative unless we get a weekly close in the future above 1.5625 now”.
GBP/USD key levels
At the moment the pair is advancing 0.72% at 1.5126 with the next resistance at 1.5193 (high Jul.11) followed by 1.5284 (50% of 1.4832-1.5753) and finally 1.5305 (high Jul.3). On the flip side, a breakdown of 1.5035 (low Jul.11) would open the door to 1.5000 (Psychological level) and then 1.4868 (low Jul.9).
GBP/USD remains bearish
Despite yesterday’s violent up-move, the prospects for the sterling look still grim, as the economic conditions in the UK remains fragile in combination with the likeliness of the BoE adopting forward guidance in the near to medium term horizon. In the opinion of analysts at RBS, “For the longer term outlook this stays negative unless we get a weekly close in the future above 1.5625 now”.
GBP/USD key levels
At the moment the pair is advancing 0.72% at 1.5126 with the next resistance at 1.5193 (high Jul.11) followed by 1.5284 (50% of 1.4832-1.5753) and finally 1.5305 (high Jul.3). On the flip side, a breakdown of 1.5035 (low Jul.11) would open the door to 1.5000 (Psychological level) and then 1.4868 (low Jul.9).