11 Oct 2013
GBP/USD turns negative
FXstreet.com (Córdoba) - Following another failed attempt at 1.6000 and weighed by disappointing UK construction, the GBP/USD retreated to the 1.5950 area, turning intraday negative during the New York session.
The GBP/USD found interim support at the 1.5970 zone, but as the greenback picked up strength, the Cable dropped to a fresh low of 1.5945 before finding support. GBP/USD has recovered slightly and it is currently trading around 1.5955, still 0.1% below its opening price.
GBP/USD technical levels
In terms of technical levels, if GBP/USD breaks below 1.5945, next supports are seen at 1.5915 (Oct 9 & 10 lows) and 1.5900 (psychological level). On the upside, resistances could be found at 1.6000 (psychological level) and 1.6050 (20-day SMA).
The GBP/USD found interim support at the 1.5970 zone, but as the greenback picked up strength, the Cable dropped to a fresh low of 1.5945 before finding support. GBP/USD has recovered slightly and it is currently trading around 1.5955, still 0.1% below its opening price.
GBP/USD technical levels
In terms of technical levels, if GBP/USD breaks below 1.5945, next supports are seen at 1.5915 (Oct 9 & 10 lows) and 1.5900 (psychological level). On the upside, resistances could be found at 1.6000 (psychological level) and 1.6050 (20-day SMA).