18 Jul 2013
GBP/USD retreats from highs to trade flat
FXstreet.com (Córdoba) - Regardless a short-lived spike, GBP/USD keeps on returning to the 1.5200 comfort zone, unable pick up fresh steam as investors wait Bernanke's second day of testimony.
GBP/USD keeps returning to 1.5200
GBP/USD was rejected from the 1.5240 zone and slid back to the 1.5200 zone, level that has been acting as a magnet for the Cable over the last sessions. At time of writing, GBP/USD is trading around 1.5205, where it is virtually unchanged since opening.
GBP/USD more gains seen above 1.5240
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that GBP/USD could find further upward momentum only on a break of the 200 EMA in the 4-hour chart around 1.5240. "The key support comes around 1.5130, a short term ascendant trend line coming from 1.4812", Bednarik said.
With the opening remarks unchanged from yesterday, focus will turn to Bernanke's Q&A session for clues over the timing the Fed could start withdrawing easing measures.
GBP/USD keeps returning to 1.5200
GBP/USD was rejected from the 1.5240 zone and slid back to the 1.5200 zone, level that has been acting as a magnet for the Cable over the last sessions. At time of writing, GBP/USD is trading around 1.5205, where it is virtually unchanged since opening.
GBP/USD more gains seen above 1.5240
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that GBP/USD could find further upward momentum only on a break of the 200 EMA in the 4-hour chart around 1.5240. "The key support comes around 1.5130, a short term ascendant trend line coming from 1.4812", Bednarik said.
With the opening remarks unchanged from yesterday, focus will turn to Bernanke's Q&A session for clues over the timing the Fed could start withdrawing easing measures.