GBP/USD bearish while below 1.5550 – V.Bednarik
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GBP/USD
FXstreet.com (San Francisco) - GBPUSD ended the NA practically unchanged from the previous day's close, finishing at 1.5517 after trading in range between 1.5477 and 1.5548.
According to Valeria Bednarik, Chief Analyst at FXstreet.com, "Hourly technical studies remain flat in neutral territory, giving no much clues of what's next for Pound," she says. "Price needs to break below the 1.5460 low set past Friday to be able to extend its slide while the bearish tone will prevail as long as price holds below the 1.5550/60 resistance zone."
The pairing is relatively unchanged so far this Wednesday in Asia. Should price manage to muster some significant action, Ms. Bednarik identifies resistance levels at 1.5550, 1.5590 and 1.5620, while support levels lie at 1.5490, 1.5455 and 1.5420.
According to Valeria Bednarik, Chief Analyst at FXstreet.com, "Hourly technical studies remain flat in neutral territory, giving no much clues of what's next for Pound," she says. "Price needs to break below the 1.5460 low set past Friday to be able to extend its slide while the bearish tone will prevail as long as price holds below the 1.5550/60 resistance zone."
The pairing is relatively unchanged so far this Wednesday in Asia. Should price manage to muster some significant action, Ms. Bednarik identifies resistance levels at 1.5550, 1.5590 and 1.5620, while support levels lie at 1.5490, 1.5455 and 1.5420.
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