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GBP/USD: Testing 1.5800, bearish below 1.5740
Fri, Feb 3 2012, 16:15 GMTThe best pair to trade now RSS |
The GBP/USD has been under selling pressure this Friday, regardless the strong risk appetite seen in stocks. The 4 hours chart shows the pair holds the bullish tone seen over the past few weeks despite testing 1.5740 o US employment readings, having bounced back to 1.5800 afterwards. Technically, the recovery has stalled in the 20 SMA while indicators head south still above their midlines. More range is expected till the end of the day, with the pair trading between 1.5740 and 1.5830 levels.
GBPUSD: Biased To The Upside Medium Term Despite Price Hesitation
Fri, Feb 3 2012, 09:01 GMTDaily Technical Strategist RSS |
GBPUSD: Biased To The Upside Medium Term Despite Price Hesitation. GBPUSD - Although GBP backed off higher prices to close lower on Thursday, we continue to maintain our upside outlook. This suggests that GBP should eventually return above the 1.5882/5 level.This will pave the way for further strength towards the 1.6074 level, its Nov’2011 high. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 1.5770/9 level where a reversal of







