FXstreet.com (Córdoba) - After a brief upward correction, another wave of selling hit the Cable pushing it toward daily lows. However, the GBP/USD has managed to hold above the 1.5600 mark where buyers continue to surge on dips and at time of writing, the pair is trading at the 1.5610 area, still down 0.3% on the day.
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com, recently commented: "Still unable to confirm a slide, price has been finding support in a short term ascendant trend line currently around 1.5590, also static support level. A break below may see the pair extending its slide near 1.5550 over the upcoming hours, where the pair will likely consolidate before attempting a continuation towards 1.5520 zone".
"In the short term, immediate resistance comes at 1.5630/40 price zone, and seems unlikely and advance beyond it, yet if it does, pair will try to retest mentioned 1.5680 highs", the analyst adds.
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com, recently commented: "Still unable to confirm a slide, price has been finding support in a short term ascendant trend line currently around 1.5590, also static support level. A break below may see the pair extending its slide near 1.5550 over the upcoming hours, where the pair will likely consolidate before attempting a continuation towards 1.5520 zone".
"In the short term, immediate resistance comes at 1.5630/40 price zone, and seems unlikely and advance beyond it, yet if it does, pair will try to retest mentioned 1.5680 highs", the analyst adds.
