FXstreet.com (Córdoba) - The Cable continues to seesaw as most crosses in the FX market as in the absence of economic events, the trading remains mostly driven by sentiment and headlines. GBP/USD printed a fresh 2012 high of 1.6308 but has been unable to consolidate above 1.6300, and has spent the last hours back and forth instead.
With dips being contained by the 1.6225 area so far, the pair is currently trading at the 1.6240/45 zone, still up 0.2% on the day.
"As hourly is positive, with 10 day EMA holding the price, near-term structure keeps the upside in focus", said Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Today's close above 1.6300 is seen as supportive for fresh extension higher, however, any dips should be contained at/above 1.6200, also 4h chart cloud top".
With dips being contained by the 1.6225 area so far, the pair is currently trading at the 1.6240/45 zone, still up 0.2% on the day.
"As hourly is positive, with 10 day EMA holding the price, near-term structure keeps the upside in focus", said Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Today's close above 1.6300 is seen as supportive for fresh extension higher, however, any dips should be contained at/above 1.6200, also 4h chart cloud top".
