Forex: GBP/USD continues to range ahead of US open
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - GBPUSD has moved within a 30 pip range during the European session, largely unmoved by the release of mixed German IFO data.
The pair is currently trading at 1.5809 after finding support at the 1.5800 level. According to the technical analysts at the Ace Trader team, "buoyed by a Euro led rebound, gains towards 1.5837/38 cannot be ruled out, however 1.5853 should cap the upside and yield the resumption of a corrective decline from last Thursdays 3-month 1.5912 high to 1.5778." They cite support at 1.5791/ 1.5778/ 1.5766, with resistance located at 1.5853/ 1.5869/ and 1.5912.
European Equities have continued to move gradually higher throughout the session alongside the broad majority of commodities while Spanish and Italian yields remain largely unchanged.
The pair is currently trading at 1.5809 after finding support at the 1.5800 level. According to the technical analysts at the Ace Trader team, "buoyed by a Euro led rebound, gains towards 1.5837/38 cannot be ruled out, however 1.5853 should cap the upside and yield the resumption of a corrective decline from last Thursdays 3-month 1.5912 high to 1.5778." They cite support at 1.5791/ 1.5778/ 1.5766, with resistance located at 1.5853/ 1.5869/ and 1.5912.
European Equities have continued to move gradually higher throughout the session alongside the broad majority of commodities while Spanish and Italian yields remain largely unchanged.
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