Forex: GBP/USD falls below 1.5671 and bounces
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The GBPUSD has seesawed back and forth in these moments, most recently on the upswing in positive territory. This move comes after a GBP surge this morning during European trading, which was instigated by solid data in the UK. The wild swings have encapsulated a range between 1.5660 and 1.5702.
According to at Stoyan Mihaylov, an analyst at Deltastock, "The intraday outlook for the GBPUSD is rather neutral and there is a risk of deeper drowning to 1.5620, however the bias on the senior frames is still bullish and the focus is set at 1.5780 resistance area -the key level on the downside is 1.5570."
Presently, the pair is trading in positive territory, netting a gain of +0.08% on the day, after settling at 1.5691. Consistent with Mihaylov's analysis, the pair's rise will be tested by additional means of resistance at 1.5728 and 1.5780. Conversely, the pair will encounter calculated support at 1.5620 and 1.5402.
According to at Stoyan Mihaylov, an analyst at Deltastock, "The intraday outlook for the GBPUSD is rather neutral and there is a risk of deeper drowning to 1.5620, however the bias on the senior frames is still bullish and the focus is set at 1.5780 resistance area -the key level on the downside is 1.5570."
Presently, the pair is trading in positive territory, netting a gain of +0.08% on the day, after settling at 1.5691. Consistent with Mihaylov's analysis, the pair's rise will be tested by additional means of resistance at 1.5728 and 1.5780. Conversely, the pair will encounter calculated support at 1.5620 and 1.5402.
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