13 Dec 2013
GBP/USD finds support at 1.6260
FXstreet.com (San Francisco) - After falling around 85 pips from 1.6350 in the European session, the GBP/USD seems to have found support at 1.6250, lowest since November 21, where the pair bounced back to trade at 1.6280.
The GBP/USD triggered stops orders around 1.6315 early in the session as the Cable is declining for third day in a row. The Pound to US Dollar exchange rate has lost 200 pips from December 10 highs at 1.6465 to 3-week lows at 1.6265.
GBP/USD bias:
Currently, the GBP/USD is trading at 1.6290, 0.33% negative on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart. MACD, CCI and Momentum are pointing to the south while the stochastic is bullish.
The GBP/USD would face supports at 1.6300, 1.6120 and 1.6000. On the upside, resistances are at 1.6320, 1.6350 and 1.6415.
The GBP/USD triggered stops orders around 1.6315 early in the session as the Cable is declining for third day in a row. The Pound to US Dollar exchange rate has lost 200 pips from December 10 highs at 1.6465 to 3-week lows at 1.6265.
GBP/USD bias:
Currently, the GBP/USD is trading at 1.6290, 0.33% negative on the day. The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart. MACD, CCI and Momentum are pointing to the south while the stochastic is bullish.
The GBP/USD would face supports at 1.6300, 1.6120 and 1.6000. On the upside, resistances are at 1.6320, 1.6350 and 1.6415.