Friday 8 April 2011

Forex: GBP/USD, upticking still firm, rate above 1.6300

FXstreet.com (Barcelona) - GBP/USD recovered from a low at 1.6250 after the BoE decided to leave rates on hold. Pair remains trading in a quite limited range between 1.6250 and 1.6340 with hourly indicators flat, giving no clues of further direction. Current quoting in the Asian session settles at 1.6315.

"4 hours chart shows indicators heading lower still above their midlines" points Valeria Bednarik, Chief Analyst at FXstreet.com. Adding that "while 20 SMA holds a strong bullish slope currently around 1.6280, lose of this last, could anticipate a break below mentioned 1.6250, pointing for a bearish extension towards 1.6200 price zone".

Support levels: 1.6300 1.6250 1.6220, Resistance levels: 1.6365 1.6400 1.6440

4 comments:

  1. This comment has been removed by the author.

    ReplyDelete
  2. Great Post. Articles That Have Meaningful And Insightful Remarks Are More Enjoyable, At Least To Me. It’s Exciting Trade245 Login To Read What Other People Imagined And How It Relates To Them Or Their Clients, As Their Perspective Could Help You In The Future

    ReplyDelete
  3. OctaFx Review helps identify trading opportunities using actions of Market Participants through charts, patterns, and indicators. It seeks to answer the question: "How Will Market Participants React To Current And Future Events?"

    ReplyDelete
  4. Would You Like To Access Your Best Regulated Forex Brokers In Malaysia Account And Manage Your Trades? This Is The Place For You. Here You Can Easily Manage Your Investments, Deposit Or Withdraw Funds. Read More Here.

    ReplyDelete