28 Jun 2013
GBP/USD struggles around the 20 hourly EMA
FXstreet.com (Barcelona) - Despite heightened risk appetite along Asian trading, the GBP/USD is barely changed, currently exchanging hands at 1.5265 against 1.5255 NY close.
20-EMA hourly chart caps the upside
The negative UK GDP seems to still weigh on the GBP/USD, which in spite of the recovery in sentiment along Asia, has barely capitalized on it. The pair continues well capped by the 20-ema on the hourly, same indicator that has been offering good entry points for sellers since Juen 26 in European session.
Technical analysis
Technically, the pair maintains the overall bearish trend, says Valeria Bednarik, Chief Analyst at FXstreet.com : "Corrective movements will find resistance in the 1.5340 area, and only above this last the bearish pressure will begin to ease." On the downside, Bednarik sees support levels at 1.5230, 1.5190 and 1.5140.
20-EMA hourly chart caps the upside
The negative UK GDP seems to still weigh on the GBP/USD, which in spite of the recovery in sentiment along Asia, has barely capitalized on it. The pair continues well capped by the 20-ema on the hourly, same indicator that has been offering good entry points for sellers since Juen 26 in European session.
Technical analysis
Technically, the pair maintains the overall bearish trend, says Valeria Bednarik, Chief Analyst at FXstreet.com : "Corrective movements will find resistance in the 1.5340 area, and only above this last the bearish pressure will begin to ease." On the downside, Bednarik sees support levels at 1.5230, 1.5190 and 1.5140.