Forex: GBP/USD recovery capped by 1.6000
Forex pairs in this Article »
GBP/USD
FXstreet.com (Córdoba) - Weighed by the negative turn in risk sentiment, GBPUSD fell sharply at the beginning of the American session and made a fresh 2-week low of 1.5953 against the greenback before finding buyers.
Even though GBPUSD managed to bounce from lows, the recovery was capped by the 1.6000 psychological level. At time of writing, GBPUSD is trading at the 1.5975 zone, 0.1% below its opening price, having retreated from a high of 1.6040 scored earlier on the day.
Valeria Bednarik, chief analyst at FXstreet.com locates immediate supports at 1.5950, 1.5910 and 1.5880, while resistances are seen at 1.6000, 1.6025 and 1.6065.
Even though GBPUSD managed to bounce from lows, the recovery was capped by the 1.6000 psychological level. At time of writing, GBPUSD is trading at the 1.5975 zone, 0.1% below its opening price, having retreated from a high of 1.6040 scored earlier on the day.
Valeria Bednarik, chief analyst at FXstreet.com locates immediate supports at 1.5950, 1.5910 and 1.5880, while resistances are seen at 1.6000, 1.6025 and 1.6065.
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