11 Jul 2013
GBP/USD dips contained by 1.5060
FXstreet.com (Córdoba) - The GBP/USD saw a quick yet short-lived drop at the beginning of the American session in the wake of disappointing US jobless claims.
GBP/USD dips below 1.5100
GBP/USD dropped nearly 50 pips after the data, piercing below the 1.5100 mark, although the dip was contained by the 1.5075 level. At time of writing, the pair is trading at the 1.5095 zone, where it records a 0.6% gain on Thursday.
GBP/USD loses bullish shine
"The hourly chart shows an increasing bearish potential, with price struggling around 20 SMA and indicators heading south below their midlines, yet only below 1.5050 bears will gain some control over the pair", says Valeria Bednarik, chief analyst at FXstreet.com. "In the 4 hours chart technical readings hold in positive territory turning flat after erasing overbought readings which limits for now the downside".
GBP/USD dips below 1.5100
GBP/USD dropped nearly 50 pips after the data, piercing below the 1.5100 mark, although the dip was contained by the 1.5075 level. At time of writing, the pair is trading at the 1.5095 zone, where it records a 0.6% gain on Thursday.
GBP/USD loses bullish shine
"The hourly chart shows an increasing bearish potential, with price struggling around 20 SMA and indicators heading south below their midlines, yet only below 1.5050 bears will gain some control over the pair", says Valeria Bednarik, chief analyst at FXstreet.com. "In the 4 hours chart technical readings hold in positive territory turning flat after erasing overbought readings which limits for now the downside".