31 Jul 2013
GBP/USD trims losses
FXstreet.com (Córdoba) - The GBP/USD managed to trim daily losses after finding support at the 1.5125 zone, where it bottomed out in the wake of stronger-than-expected US data.
GBP/USD bounced from lows but the recovery was capped by the 1.5165 area, leaving the pair in a narrow range as investors refrain from taking big bets ahead of the FOMC decision. At time of writing, GBP/USD is trading at the 1.5155/60 zone, where it is still down 0.5% on the day.
GBP/USD short-term bearish
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that GBP/USD keeps a bearish perspective in 1- and 4-hour charts. The analyst locates immediate support levels at 1.5110, 1.5060 and 1.5025, while resistances are seen at 1.5170, 1.5220 and 1.5255.
GBP/USD bounced from lows but the recovery was capped by the 1.5165 area, leaving the pair in a narrow range as investors refrain from taking big bets ahead of the FOMC decision. At time of writing, GBP/USD is trading at the 1.5155/60 zone, where it is still down 0.5% on the day.
GBP/USD short-term bearish
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that GBP/USD keeps a bearish perspective in 1- and 4-hour charts. The analyst locates immediate support levels at 1.5110, 1.5060 and 1.5025, while resistances are seen at 1.5170, 1.5220 and 1.5255.