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15 Aug 2013
GBP/USD trims daily gains
FXstreet.com (Córdoba) - The GBP/USD has erased almost completely its intraday gains at the beginning of the American session as the greenback strengthened following upbeat jobs data.
The GBP/USD retreated from a 2-month high of 1.5593 to a session low of 1.5520 before the setback was contained by the 20-hour SMA. At time of writing, GBP/USD is trading at the 1.5535/40 area, where it is still up 0.2% on the day.
GBP/USD lost upward momentum
“In the 4 hours chart indicators lost the upward momentum although the overall picture is still bullish, with a recovery above 1.5550 Fibonacci resistance signaling a recovery back towards 1.5600 area”, says Valeria Bednarik, chief analyst at FXstreet.com.
Bednarik locates immediate support levels at 1.5520, 1.5480 and 1.5440, while she sees resistances at 1.5550, 1.5600 and 1.5635.
The GBP/USD retreated from a 2-month high of 1.5593 to a session low of 1.5520 before the setback was contained by the 20-hour SMA. At time of writing, GBP/USD is trading at the 1.5535/40 area, where it is still up 0.2% on the day.
GBP/USD lost upward momentum
“In the 4 hours chart indicators lost the upward momentum although the overall picture is still bullish, with a recovery above 1.5550 Fibonacci resistance signaling a recovery back towards 1.5600 area”, says Valeria Bednarik, chief analyst at FXstreet.com.
Bednarik locates immediate support levels at 1.5520, 1.5480 and 1.5440, while she sees resistances at 1.5550, 1.5600 and 1.5635.