25 Oct 2013
GBP/USD slides below 1.6200
FXstreet.com (Córdoba) - The GBP/USD failed to sustain gains and fell back below the 1.6200 mark during the European session, despite UK Q3 GDP came in line with expectations.
The Cable dropped back below 1.6200 but managed to hold above the 100-hour SMA and it is currently trading at the 1.6185 zone, virtually unchanged on the day. Despite intraday moves, the GBP/USD continues to trade well within this week's range which is bounded by 1.6115 on the downside and 1.6255 on the upside.
GBP/USD levels to watch
In terms of technical levels, immediate supports for GBP/USD are seen at 1.6115 (Oct 22 low) and 1.6100 (psychological level). On the flip side, resistances might be faced at 1.6246 (daily high) and 1.6255 (Oct 23 high) ahead of 1.6259 (Oct 1 high) and 1.6300 (psychological level).
The Cable dropped back below 1.6200 but managed to hold above the 100-hour SMA and it is currently trading at the 1.6185 zone, virtually unchanged on the day. Despite intraday moves, the GBP/USD continues to trade well within this week's range which is bounded by 1.6115 on the downside and 1.6255 on the upside.
GBP/USD levels to watch
In terms of technical levels, immediate supports for GBP/USD are seen at 1.6115 (Oct 22 low) and 1.6100 (psychological level). On the flip side, resistances might be faced at 1.6246 (daily high) and 1.6255 (Oct 23 high) ahead of 1.6259 (Oct 1 high) and 1.6300 (psychological level).