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Forex pairs in this Article » GBP/USD
FXstreet.com (Barcelona) - In what looked like a rather bleak affair this morning turned into one of optimism as the GBPUSD jumped over 30 pips in recent minutes off of the 1.5640 mark to trade positively Wednesday. At the time of writing, the cross is showing signs of life, having settled in the area of 1.5670/71, clinging to a narrow +0.07% gain during European trading.

According to Slobodan Drvenica, an analyst at Windsor Brokers Ltd., "The GBPUSD continues to trend lower after a previous attempt at 1.5673/84 failed resulting in the testing of the next target at 1.5634, (16 August low), ahead of the psychological 1.5600 level. Yesterday's outside day confirms the negative structure and keeps the downside favored, as lower timeframe studies maintain bearish tone and keep immediate focus at 1.5600."

In an unlikely move positive in recent moments, Drvenica isolates the next resistances at 1.5673, onto 1.5684, and eventually 1.5700. Conversely, a waning in the GBPUSD will initiate supportive correction found at 1.5629, 1.5600 (key barrier), and finally 1.5550.
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