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Forex pairs in this Article » GBP/USD (New York) - The GBP/USD foreign exchange has been devoid of any sweeping movements Wednesday, instead gradually inching lower off earlier highs at 1.5685 during European trading.

Presently, the GBP/USD pair is settling in a 1.5654/57, tepidly clinging to positive territory at +0.08% in these moments. Earlier data in the UK proved to be mostly positive, which has certainly buoyed the GBP.

GBP/USD upside move supported by bullishness?

“The GBP/USD managed to stabilize above 1.5605 levels, which is positive and might extend the upside move toward 1.5685 then 1.5670 -113% and 127.2% Fibonacci – linear regression indicators supports bullishness; a breakout below 1.5535 weakens the possibility of the upside move.” warns the Technical Analyst team at analysts point to the propensity for short-term resistances at 1.5692, then 1.5738, and finally 1.5824. On the pullback, supportive measures are found at 1.5560, then 1.5474, and ultimately 1.5428.
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