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20 Sep 2013
GBP/USD tests daily lows
FXstreet.com (Córdoba) - The GBP/USD resumed its pullback from 8-month highs during the European session after the latest upside attempt was capped by the 1.6065 zone.
GBP/USD failed to overcome the 1.6065 area and came under mild pressure, sliding to fresh daily lows but holding well within its recent range, lacking strong momentum. At time of writing, the Cable is trading around 1.6030, virtually unchanged since opening, having hit a low of 1.6023 in recent dealings. The decline stalled just one pip above yesterday's trough, reinforcing resistance at the 1.6023/20 area.
GBP/USD technical outlook
From a technical perspective, “The intraday bias is negative below 1.6100 resistance area and the pair will attempt a tighter test of 1.5980 support zone before bouncing higher, for a renewal of the rise towards 1.6300”, says Stoyan Mihaylov, analyst at DeltaStock.com.
GBP/USD failed to overcome the 1.6065 area and came under mild pressure, sliding to fresh daily lows but holding well within its recent range, lacking strong momentum. At time of writing, the Cable is trading around 1.6030, virtually unchanged since opening, having hit a low of 1.6023 in recent dealings. The decline stalled just one pip above yesterday's trough, reinforcing resistance at the 1.6023/20 area.
GBP/USD technical outlook
From a technical perspective, “The intraday bias is negative below 1.6100 resistance area and the pair will attempt a tighter test of 1.5980 support zone before bouncing higher, for a renewal of the rise towards 1.6300”, says Stoyan Mihaylov, analyst at DeltaStock.com.