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5 Aug 2013
GBP/USD resting barely below the 1.53 handle
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last quoted at 1.5292, unchanged from previous weekly close Friday, after it bounced from 2.5-week lows barely above the 1.51 handle before the NFP was out.
GBP/USD far from suggesting a correction
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The GBP/USD hourly chart shows indicators flat in extreme overbought levels, far from suggesting a correction is underway. In the 4 hours chart technical stance is bullish, with price above 200 EMA currently around 1.5250 and immediate support. Stead gains above past Friday high of 1.5307 should signal an upward continuation for this first day of the week.”
GBP/USD key technical levels
Bednarik finds support levels at: 1.5250, 1.5220 and 1.5180, while resistance levels at: 1.5310, 1.5350 and 1.5385.
GBP/USD far from suggesting a correction
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The GBP/USD hourly chart shows indicators flat in extreme overbought levels, far from suggesting a correction is underway. In the 4 hours chart technical stance is bullish, with price above 200 EMA currently around 1.5250 and immediate support. Stead gains above past Friday high of 1.5307 should signal an upward continuation for this first day of the week.”
GBP/USD key technical levels
Bednarik finds support levels at: 1.5250, 1.5220 and 1.5180, while resistance levels at: 1.5310, 1.5350 and 1.5385.