27 Jun 2013
GBP/USD bounces from sub-1.53 support
FXstreet.com (Barcelona) - Cable is last trading at 1.5335, off NY session and fresh 3-week lows at 1.5294. The pair is down -0.54% for the week so far, while -5.65% year to date, ahead of key UK current account and final q/q GDP at 08:30 GMT.
Bearish tone in the 1H charts
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the pair maintains “a bearish tone according to the hourly chart, with 20 SMA heading south above current price and indicators still heading lower below their midlines,” adding: “In the 4 hours chart technical picture is also bearish, with price still heading towards 1.5270 midterm strong support. A break below this last should expose the 1.50 area for the upcoming days.”
Key technical levels
The analyst spots support levels at: 1.5300, 1.5270 and 1.5230, while resistance levels at: 1.5345, 1.5380 and 1.5410
Bearish tone in the 1H charts
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the pair maintains “a bearish tone according to the hourly chart, with 20 SMA heading south above current price and indicators still heading lower below their midlines,” adding: “In the 4 hours chart technical picture is also bearish, with price still heading towards 1.5270 midterm strong support. A break below this last should expose the 1.50 area for the upcoming days.”
Key technical levels
The analyst spots support levels at: 1.5300, 1.5270 and 1.5230, while resistance levels at: 1.5345, 1.5380 and 1.5410