30 Oct 2013
GBP/USD hits 1.6027 bottoms
FXstreet.com (Chicago) - GBP/USD extends the bearish channel ahead of the Fed’s interest rate decision hitting 1.6027 session lows.
Price action reveals the pair extends the bearish channel on heavy selling printing 1.6027 bottoms. Short and long-term trends point down confirming the bearish sentiment spread across the markets ahead of the Federal Reserve interest rate decision. Offered at 1.6028, the pair oscillates between the supports aligned at 1.6018 (October 14th highs), 1.5951 (October 14th lows) followed by 1.5916 (October 15th lows) and the resistances set at 1.6085 (October 28th lows), 1.6125 (October 23rd lows) ahead of 1.6179 (October 21st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Price action reveals the pair extends the bearish channel on heavy selling printing 1.6027 bottoms. Short and long-term trends point down confirming the bearish sentiment spread across the markets ahead of the Federal Reserve interest rate decision. Offered at 1.6028, the pair oscillates between the supports aligned at 1.6018 (October 14th highs), 1.5951 (October 14th lows) followed by 1.5916 (October 15th lows) and the resistances set at 1.6085 (October 28th lows), 1.6125 (October 23rd lows) ahead of 1.6179 (October 21st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.