by Tue, 07 Sep 2010 20:09:00 +0200
Forex: GBP/USD trims losses, moves to 1.5350
FXstreet.com (Córdoba) – The Pound extended its recovery in the last hours against the Dollar. GBP/USD managed to hold above 1.5300 and rose to 1.5345, trimming losses. Greenback lost momentum as stocks stabilize in Wall Street, near daily lows.
Currently trades at 1.5340/45, 0.30% below today’s opening price.
“In the event of further bearishness off the current breakdown, price should target further downside support in the 1.5200 price region, followed by a key psychological support target in the important 1.5000 area”, James Chen, chief technical analyst at FX solutions said.
| Technical Analysis (2010-09-07 18:00 GMT) | |
|---|---|
GBP/USD 1.5343/1.5348 - O: 1.5443 H: 1.5444 L: 1.5409 C: 1.5413 | |
| Trend | R3: 1.5397 |
 | R2: 1.5359 |
| R1: 1.5320 | |
| S1: 1.5234 | |
| S2: 1.5272 | |
| S3: 1.5310 | |
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