Forex: GBP/USD aiming for a correction

FXstreet.com (Buenos Aires) – GBP/USD Current price: 1.5412. Pound also cede today on risk aversion, reaching 1.5370 fresh 5-week low before halting the slump; entering Asia close to that level, hourly indicators have a slightly bullish tone yet still lacking strength: pair needs at least to accelerate or confirm above 1.5440 area, to extend the upside correction.

“Bigger time frames hold a bearish tone, suggesting the upside will likely remain limited till European opening,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.5410 1.5370 1.5330. Resistance levels: 1.5440 1.5490 1.5520.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS