GBP/USD: Sterling bulls have lost their way [Video]
Sterling bulls have lost their way somewhat in the past few sessions. Two small-bodied candles (reflecting a lack of conviction) have been followed up by a decisive negative candle as Cable was sold off into the close last night. The neckline breakout of the support at $1.2540 is now under threat. Read more...
GBP/USD falls to over 1-week lows and rebounds, back above 1.2500 mark
The GBP/USD pair lost some additional ground during the early North American session and dropped to over one-week lows, further below the key 1.2500 psychological mark.
The pair witnessed some heavy selling for the second consecutive session on Tuesday and extended the previous day's rejection slide from the 1.2665-70 strong horizontal resistance. Read more...
GBP/USD Price Analysis: There has been a small recovery in cable but the price is close to a resistance zone
GBP/USD started Tuesday as one of the worst performers but recently there has been a pick up in the price.
From the hourly chart below its clear that over the last five candles the bulls have managed to defend the 1.25 area. The area is a pretty decent support area as it has the 38.2% Fibonacci level and a previous consolidation high. Read more...
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