Forex: GBP/USD retreating from highs, around 1.6115/20
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GBP/USD
FXstreet.com (Barcelona) - The sterling is giving away early gains after climbing to the vicinity of 1.1650 on Wednesday, as markets are heading towards the FOMC statement.
"Prices are testing range top resistance at 1.6145, with a break higher exposing the September 21 top at 1.6309. Near term support is at the 1.60 figure, with a break below that exposing 1.5951 rising trend line set from early June now at 1.5931", explains I.Spivak, analyst at DailyFX.
The cross is now up just 0.01% at 1.6115 with the next resistance at 1.6168 (Upper Bollinger) followed by 1.6176 (high Nov.1) and 1.6178 (high Oct.17).
On the downside, a break below 1.6074 (MA10d) would allow 1.6007 (MA21d) and then 1.5999 (low Dec.10).
"Prices are testing range top resistance at 1.6145, with a break higher exposing the September 21 top at 1.6309. Near term support is at the 1.60 figure, with a break below that exposing 1.5951 rising trend line set from early June now at 1.5931", explains I.Spivak, analyst at DailyFX.
The cross is now up just 0.01% at 1.6115 with the next resistance at 1.6168 (Upper Bollinger) followed by 1.6176 (high Nov.1) and 1.6178 (high Oct.17).
On the downside, a break below 1.6074 (MA10d) would allow 1.6007 (MA21d) and then 1.5999 (low Dec.10).
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