International Trading

Forex: GBP/USD, below 1.5600, approaches 1.5560 low

Friday, August 13, 2010 , Posted by Usman Ali Minhas at 11:57 PM

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 Pound's recovery from two-week low 1.5560 has been capped at 1.5680 on European session opening, and the pair has lost momentum, with risky assets losing ground on European morning, to give away about 100 pips dropping top 1.5570 so far.

On the downside, below 1.5560 (Aug 12 low), the pair would enter fresh 2-week lows, with next support levels at 1.5525 (Apr 15 high) and 1.5525 (Apr 15 high). 

On the upside, resistance levels lie at 1.5680 (session high), and then 1.5710 (Aug 10 low/Aug 12 high) and 1.5825 (intra-day level).

GBP/USD (Aug 14 at 06:42 GMT)

1.5592/97 (0.03%)

H 1.56015 L 1.55897

S3S2S1R1R2R3
1.55171.55561.55941.56081.56481.5687
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Aug 13 at 18:45 (15-minute timeframe)

[ View GBP/USD Technical Studies ]

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