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29 Sep 2014
GBP/USD's shy recovery contained at 1.6250
The Sterling's recovery from nearly 2-week lows around 1.6210 against the US Dollar was contained by the 1.6250 level where the pair found selling interest.
Currently, GBP/USD is trading at 1.6242, almost flat on the day, having posted a daily high at 1.6264 and low at 1.6214. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
"In the 4 hours chart the bearish tone prevails, with 20 SMA presenting a clear bearish slope around 1.6300 and indicators directionless well into negative territory," comments Valeria Bednarik from FXStreet. "A price acceleration above this last should lead to a quick advance up to 1.6340/50 price zone, strong static resistance level."
Pair remains trading in range between 1.6210 and 1.6250, above it, GBP/USD will face resistances at 1.6300 and 1.6340. On the downside, supports are at 1.6210, 1.6160 and 1.6060.
Currently, GBP/USD is trading at 1.6242, almost flat on the day, having posted a daily high at 1.6264 and low at 1.6214. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
"In the 4 hours chart the bearish tone prevails, with 20 SMA presenting a clear bearish slope around 1.6300 and indicators directionless well into negative territory," comments Valeria Bednarik from FXStreet. "A price acceleration above this last should lead to a quick advance up to 1.6340/50 price zone, strong static resistance level."
Pair remains trading in range between 1.6210 and 1.6250, above it, GBP/USD will face resistances at 1.6300 and 1.6340. On the downside, supports are at 1.6210, 1.6160 and 1.6060.