3 Sep 2013
GBP/USD continues ascension, operating at session highs
FXstreet.com (Lisbon) - The GBP/USD foreign exchange rate has showed no signs of restraint thus far Tuesday, resuming the uptrend and moving to establish fresh highs.
The economic calendar is a limited affair Tuesday, with UK PMI Construction (August) standing out as the only real event in the domestic calendar (8:30 GMT). Later today in the US, investors will digest results of ISM Manufacturing in the US at 14:00 GMT.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD is attempting to trade below 78.6% correction at 1.5550 levels, as stability below it might bring back the downside move. RSI is still showing a negative bias but the pair has to stabilize below 1.5550 levels to support the negative outlook.”
GBP/USD technical levels
The GBP/USD is presently residing in positive territory during European trading, albeit at a +0.10% gain, which places it near the 1.5566 mark. In terms of the technical levels, the GBP/USD is pointed higher and looks to face resistance at 1.5589, onto 1.5632, and 1.5672, calculates the Mataf.net analyst team.
The economic calendar is a limited affair Tuesday, with UK PMI Construction (August) standing out as the only real event in the domestic calendar (8:30 GMT). Later today in the US, investors will digest results of ISM Manufacturing in the US at 14:00 GMT.
GBP/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/USD is attempting to trade below 78.6% correction at 1.5550 levels, as stability below it might bring back the downside move. RSI is still showing a negative bias but the pair has to stabilize below 1.5550 levels to support the negative outlook.”
GBP/USD technical levels
The GBP/USD is presently residing in positive territory during European trading, albeit at a +0.10% gain, which places it near the 1.5566 mark. In terms of the technical levels, the GBP/USD is pointed higher and looks to face resistance at 1.5589, onto 1.5632, and 1.5672, calculates the Mataf.net analyst team.