2 Jul 2013
GBP/USD recovery movement stymied
FXstreet.com (New York) - The GBP/USD recovery was stonewalled at the 1.5165, thereby leading to a prolonged weakness during the latter stages of US trading Tuesday.
GBP/USD static near opening levels
The GBP/USD is presently trading at 1.5154, having slid -0.40% off its opening. “The weakness of the GBP/USD was held by the key support at 1.5183, which was tested on Friday. A closing break below this would a strong bearish development, exposing 1.5009. Resistance is at 1.5279 ahead of 1.5390.” notes Gareth Berry, a Research Analyst at UBS.
GBP/USD upside limited
According to Head of Global Markets Research Tim Riddell at ANZ, “Although the GBP/USD remains in the 1.5175-1.5200 area that is supplying some support, interim rebounds should be relatively limited and should struggle in front of 1.5380-90.
GBP/USD static near opening levels
The GBP/USD is presently trading at 1.5154, having slid -0.40% off its opening. “The weakness of the GBP/USD was held by the key support at 1.5183, which was tested on Friday. A closing break below this would a strong bearish development, exposing 1.5009. Resistance is at 1.5279 ahead of 1.5390.” notes Gareth Berry, a Research Analyst at UBS.
GBP/USD upside limited
According to Head of Global Markets Research Tim Riddell at ANZ, “Although the GBP/USD remains in the 1.5175-1.5200 area that is supplying some support, interim rebounds should be relatively limited and should struggle in front of 1.5380-90.