7 Aug 2013
GBP/USD, stabilizing altitudes?
FXstreet.com (Chicago) - GBP/USD retraced from 1.5500 levels on steady decline despite steep climb throughout the day.
The pound skyrocketed to 6-week highs on BoE statement about UK’s economy. Despite having a considerably high unemployment as stated by Mark Carney, BoE’s New Governor market participants reacted positively to apparent recent improvements in the economy.
Price action indicated the price was capped by 1.5510 levels to slowly decline below 1.5000 zones. The FXstreet trend index reported the pair as slightly bullish on one-hour timeframe analysis with daily gains up 0.93%, weekly gains up 1.33% and monthly gains up 4.11%. Supports were aligned at 1.5311, 1.5272 and 1.5234 with now broken resistances at 1.5371, 1.5410 and 1.5448 as the pair traded at 1.5492.
The pound skyrocketed to 6-week highs on BoE statement about UK’s economy. Despite having a considerably high unemployment as stated by Mark Carney, BoE’s New Governor market participants reacted positively to apparent recent improvements in the economy.
Price action indicated the price was capped by 1.5510 levels to slowly decline below 1.5000 zones. The FXstreet trend index reported the pair as slightly bullish on one-hour timeframe analysis with daily gains up 0.93%, weekly gains up 1.33% and monthly gains up 4.11%. Supports were aligned at 1.5311, 1.5272 and 1.5234 with now broken resistances at 1.5371, 1.5410 and 1.5448 as the pair traded at 1.5492.