Wednesday, August 25, 2010

GBP/USD aiming for a correction


Forex Special 

(Buenos Aires) – GBP/USD Current price: 1.5412. Pound also cede today on risk aversion, reaching 1.5370 fresh 5-week low before halting the slump; entering Asia close to that level, hourly indicators have a slightly bullish tone yet still lacking strength: pair needs at least to accelerate or confirm above 1.5440 area, to extend the upside correction.

“Bigger time frames hold a bearish tone, suggesting the upside will likely remain limited till European opening,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.5410 1.5370 1.5330. Resistance levels: 1.5440 1.5490 1.5520.

EUR/USD (Aug 25 at 07:04 GMT)

1.2655/60 (0.23%)

H 1.2669 L 1.2617

S3S2S1R1R2R3
1.25821.26131.26451.26531.26851.2716
[?]Trend Index[?]OB/OS Index
Slightly BearishNeutral
Data updated on Aug 25 at 07:00 (15-minute timeframe)


[ View EUR/USD Technical Studies ]

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