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Forex pairs in this Article » GBP/USD
FXstreet.com (Barcelona) - The GBPUSD has pared some of its gains in an easing movement Wednesday, as a retreat from the 1.0644 level (calculated resistance) has been met with a sharp pullback to the tune of nearly 40 pips. Despite this trend however, the pair continues to soldier forth and has settled in positive territory in the region of 1.6005/07.

"As 4h studies start to point higher, a break here, also the 55-day EMA and retest of 1.6090 (Fib 61.8% / 1.6100) would confirm a near-term bullish stance. Otherwise, lower boundaries of the near-term range, would remain in focus. The daily structure is in neutral mode, as the price remains entrenched within 1.5900/1.6170 range, since mid-October." writes Slobodan Drvenica, an analyst at Windsor Brokers Ltd.

At the time of writing the GBPUSD is incurring a slight advance of only +0.06% above its opening. Briefing the technicals, Slobodan Drvenica cites resistive correction at 1.6040, then 1.6066, and finally 1.6091. Conversely, a break below the key 1.6024 level will initiate support at 1.6000 onto 1.5967.

It is a quiet day on the data front in both the United States and the United Kingdom for the duration of the European session. Instead the focus will move towards the impending Greek vote, which has the capability of exacerbating the specter of risk.
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