22 Jul 2013
GBP/USD capped below 1.53 ahead of London
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last trading at 1.5287, off recent session highs shy of the 1.53 handle, printed on the back of broad USD weakness, ahead of UK BBA Mortgage approvals data at 09:30 GMT.
GBP/USD supported at 1.5200 in case of retracements
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The GBP/USD trades steadied near its recent highs, with the hourly chart showing price aiming higher above a bullish 20 SMA as indicators lose some strength still in positive territory. In the 4 hours chart price stands above a flat 200 EMA, currently around 1.5230, while 20 SMA converges with an ascendant trend line around 1.5200 offering quite an interesting support in case of retracements.”
GBP/USD key technical levels
Bednarik sees support levels at: 1.5230, 1.5190 and 1.5155, while resistance levels at: 1.5280, 1.5310 and 1.5345.
GBP/USD supported at 1.5200 in case of retracements
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The GBP/USD trades steadied near its recent highs, with the hourly chart showing price aiming higher above a bullish 20 SMA as indicators lose some strength still in positive territory. In the 4 hours chart price stands above a flat 200 EMA, currently around 1.5230, while 20 SMA converges with an ascendant trend line around 1.5200 offering quite an interesting support in case of retracements.”
GBP/USD key technical levels
Bednarik sees support levels at: 1.5230, 1.5190 and 1.5155, while resistance levels at: 1.5280, 1.5310 and 1.5345.