19 Nov 2013
GBP/USD soars to 1.6135 session highs
FXstreet.com (Chicago) - GBP/USD continues advancing to print 1.6135 session highs in the afternoon of the American trading session ahead of President Obama’s speech later on. So far, the pair manages to wipe out earlier losses and is 0.11% stronger today.
GBP/USD Technical Levels
Ahead of President Obama’s speech scheduled at 20:00 GMT along Fed’s Evan speech, market participants sustain the earlier rally with a pound that attempts to resume climb aiming for the 1.6150 front. On hourly charts, a reversal is evidenced as the greenback strengthened during the Asian session. Technically speaking, the pair is offered at 1.6124 and oscillates between the supports aligned at 1.6081 (November 18th lows), 1.6046 (November 15th lows) followed by 1.5987 (November 14th lows) and the resistances aligned at 1.6148 (November 18th highs), 1.62 (October 27th highs) followed by 1.6239 (October 25th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
GBP/USD Technical Levels
Ahead of President Obama’s speech scheduled at 20:00 GMT along Fed’s Evan speech, market participants sustain the earlier rally with a pound that attempts to resume climb aiming for the 1.6150 front. On hourly charts, a reversal is evidenced as the greenback strengthened during the Asian session. Technically speaking, the pair is offered at 1.6124 and oscillates between the supports aligned at 1.6081 (November 18th lows), 1.6046 (November 15th lows) followed by 1.5987 (November 14th lows) and the resistances aligned at 1.6148 (November 18th highs), 1.62 (October 27th highs) followed by 1.6239 (October 25th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.