Forex: GBP/USD reaches 2-week high
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GBP/USD
FXstreet.com (Córdoba) - As market's sentiment improves after the Eurogroup meeting fiasco, the greenback is giving up ground versus most competitors. Having bottomed at 1.5880 at the beginning of the European session, GBPUSD found buyers and climbed over 60 pips within the last hours.
At time of writing, the Cable is quoting at the 1.5930 zone, slightly above its opening price, having scored a 2-week high of 1.5939 in recent dealings.
"The pair is currently trading above its 100 EMA on the daily charts at 1.5930 and if continues to trade above it can move further towards 1.5970-6000", says the Kshitij Consultancy Services Team. "Having said that Cable continues to look bearish (Medium term) on the weekly charts but before that a rise to 1.6000-10 looks likely. Dips are expected to find good support at 1.5890-80".
At time of writing, the Cable is quoting at the 1.5930 zone, slightly above its opening price, having scored a 2-week high of 1.5939 in recent dealings.
"The pair is currently trading above its 100 EMA on the daily charts at 1.5930 and if continues to trade above it can move further towards 1.5970-6000", says the Kshitij Consultancy Services Team. "Having said that Cable continues to look bearish (Medium term) on the weekly charts but before that a rise to 1.6000-10 looks likely. Dips are expected to find good support at 1.5890-80".
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