by Mon, 27 Sep 2010 18:05:00 +0200
Forex: GBP/USD spikes to 1.5866
FXstreet.com (Buenos Aires) – It’s all about dollar weakness in the market today, with GBP/USD among the best performers against greenback, having reach a few minutes ago 1.5866, fresh 7-week high. Pair has remain firm above 1.5800 since US opening, despite investors are quiet this Monday: lack of fundamental drivers across the world, has left dollar sentiment and risk sentiment in charge.
Quoting barely under mentioned daily high, pair continues heading higher, and according to Valeria Bednarik, Fxstreet.com chief analyst, “4 hours momentum is still quite strong, supporting the upside in the cross. Above 1.5880, pair could extend gains near 1.6000 price zone in the upcoming sessions”. She sees resistances at 1.5880, 1.5920 and 1.5965, while she places short term supports at 1.5835, 1.5800 and 1.5770 price zone.
| Technical Analysis (2010-09-27 16:00 GMT) | |
|---|---|
GBP/USD 1.58497/1.58535 - O: 1.5659 H: 1.5666 L: 1.5653 C: 1.5664 | |
| Trend | R3: 1.5903 |
 | R2: 1.5863 |
| R1: 1.5824 | |
| S1: 1.5721 | |
| S2: 1.5760 | |
| S3: 1.5800 | |
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