2 Jul 2013
GBP/USD unchanged so far for the week around the 1.52 handle
FXstreet.com (Barcelona) - The GBP/USD pair is about flat for the Asian session so far, last trading at 1.5215, off session lows at the 1.52 handle, inside a narrow range of about 20 pips. The pair is also flat for the week, following the first day with new BoE governor in charge.
Little scope for rises below 1.5250
Ahead of later on UK Construction PMI at 08:30 GMT and MPC member Tucker speaking 30 minutes later, the GBP/USD shows technicals flat for the short term. “4 hours chart shows sellers aligned in the 1.5250 area, while 20 SMA stands around the same level, acting as strong resistance,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, who adds: “indicators hold the negative bias, giving little scope for rises. A price acceleration above 1.5260 should favor an advance towards 1.5300 area, while below 1.5180 the downside is favored towards fresh lows.”
Key technical levels
Bednarik spots support levels at: 1.5180, 1.5140 and 1.5100, while resistance levels: 1.5250, 1.5310 and 1.5345.
Little scope for rises below 1.5250
Ahead of later on UK Construction PMI at 08:30 GMT and MPC member Tucker speaking 30 minutes later, the GBP/USD shows technicals flat for the short term. “4 hours chart shows sellers aligned in the 1.5250 area, while 20 SMA stands around the same level, acting as strong resistance,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, who adds: “indicators hold the negative bias, giving little scope for rises. A price acceleration above 1.5260 should favor an advance towards 1.5300 area, while below 1.5180 the downside is favored towards fresh lows.”
Key technical levels
Bednarik spots support levels at: 1.5180, 1.5140 and 1.5100, while resistance levels: 1.5250, 1.5310 and 1.5345.