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Forex pairs in this Article » GBP/JPY, GBP/USD (Barcelona) - In very thin range markets during last Asian market session, Pound has shown as one of weakest majors among all, only above the Yen, with GBPJPY still slightly higher from NY close, but, over all, GBP being lower than the rest, and GBPUSD at session lows 1.5746, down around 10 pips. The pair has recovered from Monday's fresh 5-month lows at 1.5673, though still negative for the week by -0.33%.

The day ahead will be a pretty busy one for the pair and markets in general, starting with UK Net lending, mortgage approvals, and M4 money supply figures at 09:30 GMT, followed by US ADP non-farm employment change at 13:15 GMT, US advanced GDP Q4 15 minutes later, crude oil inventories at 15:30 GMT, and finally FOMC statement at 19:15.

According to Valeria Bednarik, Chief Analyst at "The hourly chart presents a slightly bullish tone as indicators stand in positive territory although flat, while 20 SMA heads north below current price, converging now with the trend line around 1.5740. Losses below this level should expose again the sub 1.57 area, while steady gains above 1.5820 is what it takes to consider 1.5673 weekly low as an interim bottom," she concludes.

Valeria spots support levels at: 1.5740, 1.5700 and 1.5660, while resistance levels at: 1.5785, 1.5820 and 1.5860.
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