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Forex pairs in this Article » GBP/USD (Barcelona) - Having declined to post a daily low at 1.6077, GBPUSD has found support and climbed to come within range of the morning high at 1.6129.

The pair, currently trading at 1.6121, found support between Fibonacci S1 support at 1.6071 and Camarilla S1 at 1.6086 before retracing its morning decline. After a morning of damp European data, focus now shifts to the US calendar with Chicago PMI at 14:45 GMT and US Pending Home Sales at 15:00 GMT. Bijoy Kar of MIG Bank notes that the pair has declined after the unsuccessful test of strong resistance at 1.6302/09. He notes that recent lows at 1.6101 have been broken and the next support comes at 1.6003, the 07/12/2012 low.
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