22 Jul 2013
GBP/USD finds resistance at 1.5385, fresh July's high
FXstreet.com (San Francisco) - The Sterling is trading higher against the US Dollar in the first day of the week and after rising around 120 pips from 1.5260 in the European session, the GBP/USD reached fresh July's high at 1.5385. However, the Cable seems to have found resistances here and currently it's trading at 1.5370.
The GBP/USD is currently 0.66% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
GBP/USD technical bias
As for short term technical readings, "the pair maintains a positive tone according to the hourly chart, although indicators look a bit exhausted near overbought levels," comments FXstreet.com's chief analyst Valeria Bednarik. "Price holding near the high however, denies at the time being the possibility of a bearish correction, as only below 1.5300 the upward potential may ease."
Above 1.5380, next resistances are at 1.5400, 1.5440 and 1.5500. On the downside, supports are at 1.5340, 1.5300 and 1.5260.
According to the Currencies Poll, the GBP/USD doesn't have a clear outlook; market experts and banks disagree on the future of pound, leaving a sideways stance for the upcoming quarter. 1-Week target is 1.5232, down from current levels.
The GBP/USD is currently 0.66% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
GBP/USD technical bias
As for short term technical readings, "the pair maintains a positive tone according to the hourly chart, although indicators look a bit exhausted near overbought levels," comments FXstreet.com's chief analyst Valeria Bednarik. "Price holding near the high however, denies at the time being the possibility of a bearish correction, as only below 1.5300 the upward potential may ease."
Above 1.5380, next resistances are at 1.5400, 1.5440 and 1.5500. On the downside, supports are at 1.5340, 1.5300 and 1.5260.
According to the Currencies Poll, the GBP/USD doesn't have a clear outlook; market experts and banks disagree on the future of pound, leaving a sideways stance for the upcoming quarter. 1-Week target is 1.5232, down from current levels.