by Thu, 16 Sep 2010 05:23:00 +0200
Forex: GBP/USD in a 50 pips range overnight
FXstreet.com (Barcelona) - The Cable made an early attempt to jump higher at the Tokyo opening, yet 1.5650/55 resistance, 1-month high, proved to be a solid barrier to blow through. The Greenback counter attacked by pushing quotes over 50 pips lower, setting a new daily low at 1.5594. At present, the pair trades in tight ranges centered at 1.5610.
According to the Analysis team at 4CAST: “With the 1.5620 resistance broken last session and positive crossing seen on daily MACD (trend indicator), further risk stays on the upside and this should attract fresh buyers into intraday trading. Above yesterday's high of 1.5652 will trigger extension towards 1.5715 congestion high”.
| Technical Analysis (2010-09-16 03:15 GMT) | |
|---|---|
GBP/USD 1.5604/1.5609 - O: 1.5375 H: 1.5383 L: 1.5375 C: 1.5381 | |
| Trend | R3: 1.5707 |
 | R2: 1.5668 |
| R1: 1.5628 | |
| S1: 1.5533 | |
| S2: 1.5572 | |
| S3: 1.5612 | |
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