28 Oct 2013
GBP/USD holds above 1.6115
FXstreet.com (Córdoba) - The GBP/USD extended its downward correction to fresh daily lows during the New York session but managed to hold above last week's troughs.
The Cable dropped below the 200-hour SMA and hit a 5-day low of 1.6124 a few pips above the bottom of its 2-week range at 1.6115. At time of writing, GBP/USD is trading at the 1.6145 area, 0.2% below its opening price.
GBP/USD levels to watch
On the downside, the GBP/USD could find immediate supports at 1.6115 (Oct 22 low) and 1.6100 (psychological level), while resistances are seen at 1.6207 (daily high), 1.6246 (Oct 25 high) and 1.6256 (Oct 23 high).
The Cable dropped below the 200-hour SMA and hit a 5-day low of 1.6124 a few pips above the bottom of its 2-week range at 1.6115. At time of writing, GBP/USD is trading at the 1.6145 area, 0.2% below its opening price.
GBP/USD levels to watch
On the downside, the GBP/USD could find immediate supports at 1.6115 (Oct 22 low) and 1.6100 (psychological level), while resistances are seen at 1.6207 (daily high), 1.6246 (Oct 25 high) and 1.6256 (Oct 23 high).