Forex: GBP/USD moving sideways above 1.6100
Forex pairs in this Article » GBP/USD
FXstreet.com (San Francisco) - GBPUSD has been largely range bound between 1.6100 and 1.6130 so far this Tuesday, last at 1.6110 ahead of the European opening. "In the 4 hours chart, indicators are still quite far below their midlines, although the upside seems now favored, towards 1.6170 resistance zone," comments Valeria Bednarik, Chief Analyst at FXstreet.com. If the market breaks below the psychological 1.6000 support barrier, the 200-day EMA offers next support at 1.5945, 1.5910 (Aug 23 high) and 1.5880 (Feb 1 high). Ms. Bednarik identifies resistance levels at 1.6120, 1.6170 and 1.6210.