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5 Jul 2013
GBP/USD hovering around 1.5050
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last trading at 1.5049, off recent session fresh 1-month lows at 1.5025, printed in early Asia trade, extending the decline from overnight's BoE meeting.
GBP/USD headed lower while below 1.5130
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, Cable's technical picture shows “indicators flat in oversold territory, with 20 SMA heading strongly down well above current price. In the 4 hours chart the strong bearish momentum seen earlier has eased but is far from reversing: as long as below 1.5130 the downside remains favored on a break of mentioned support, towards key psychological 1.50.”
GBP/USD key technical levels
Bednarik spots support levels at: 1.5050, 1.5010 and 1.4970, while resistance levels at: 1.5130, 1.5160 and 1.5200.
GBP/USD headed lower while below 1.5130
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, Cable's technical picture shows “indicators flat in oversold territory, with 20 SMA heading strongly down well above current price. In the 4 hours chart the strong bearish momentum seen earlier has eased but is far from reversing: as long as below 1.5130 the downside remains favored on a break of mentioned support, towards key psychological 1.50.”
GBP/USD key technical levels
Bednarik spots support levels at: 1.5050, 1.5010 and 1.4970, while resistance levels at: 1.5130, 1.5160 and 1.5200.