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Forex pairs in this Article » GBP/USD (Barcelona) - Cable has been most of the Asia-Pacific session near lows last at 1.5760, off previous weekly close Friday around the 1.5800 level, only able just to close partially the opening gap down, with session highs at 1.5789. It wont be till US markets get closer to the open that any major risk event will be out, starting with US core durable good orders at 13:30 GMT followed by US pending home sales at 15:00 GMT.

"As for short term technical readings," says Valeria Bednarik, Chief Analyst at, "the pair starts the week with a clear bearish tone in the hourly chart, although price may attempt to fill the gap and near 1.5800 before resuming the downside. If price tests the 1.5800/20 area yet quickly retraces back, chances of a break below 1.5740 and further fall increases, with 1.5660 then at sight for today," the analyst notes.

Valeria finds support levels at: 1.5740, 1.5700 and 1.5660, while resistance levels at: 1.5810, 1.5850 and 1.5885.
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