FXstreet.com (San Francisco) - GBP/USD remains in consolidation mode beneath the 1.5900/10 area (61.8%, 1.6297/1.5268), and so far this Wednesday is trading a tight 20-pip range above the 1.5850 mark, last at 1.5865.
“In the 4 hours chart technical readings gain bearish tone, yet further confirmation will come on a break below 1.5840 immediate support, looking then for a test of key 1.5770 area,” comments Valeria Bednarik, Chief Analyst at FXstreet.com.
In the European session ahead, the latest UK Halifax House Price Index reading will be risk event for GBP. If GBP/USD manages to break out of its tight range, Ms. Bednarik identifies support levels at 1.5840, 1.5810 and 1.5770, while resistance levels lie at 1.5880, 1.5915 and 1.5950.
“In the 4 hours chart technical readings gain bearish tone, yet further confirmation will come on a break below 1.5840 immediate support, looking then for a test of key 1.5770 area,” comments Valeria Bednarik, Chief Analyst at FXstreet.com.
In the European session ahead, the latest UK Halifax House Price Index reading will be risk event for GBP. If GBP/USD manages to break out of its tight range, Ms. Bednarik identifies support levels at 1.5840, 1.5810 and 1.5770, while resistance levels lie at 1.5880, 1.5915 and 1.5950.
